New Delhi, Nov. 5 -- The Inter-Ministerial Group (IMG), a government panel, has backed the sale of surplus land and buildings owned by state-run companies, assets worth more than Rs.1,100 crore, the finance ministry said on Thursday.

The proposals now go to the Alternative Mechanism, a group the cabinet has authorised to decide on such sales. Further sales will follow only after it approves them.

The push comes as the government works towards an Rs.80,000 crore target for FY27 from stake sales in state-run firms and asset monetisation. So far it has raised Rs.55,757.29 crore from stake sales and Rs.6,366.93 crore from other asset sales, according to the Department of Investment and Public Asset Management's (Dipam) website.

Separately,...