New Delhi: The Union cabinet on Wednesday approved rationalisation of 17 Government of India Presses by merging them into five units.

“Cabinet approves rationalisation/merger and modernisation of 17 Government of India Presses (GIPs) into five GIPs at Rashtrapati Bhawan, Minto Road and Mayapuri in New Delhi, Nashik in Maharashtra and Temple Street in Kolkata," an official statement said.

Modernisation of presses will help them take important confidential, urgent and multi-colour printing work of the union government offices across the country, said the statement.

The five presses are to be redeveloped and modernised through monetisation of their surplus land. The exchequer cost will be “zero" as well as without any retrenchment and employees will be absorbed, finance minister Arun Jaitley said during the cabinet briefing.

Under the approval, 468 acres of land belonging to these units that are to be merged will go to the Land and Development Office of the Ministry of Urban Development.