Modi government monetizes assets worth Rs 3.85 lakh crore through National Monetisation pipeline
The government has monetized Rs 3.85 lakh crore through the core assets of different ministries and the assets of Public Sector Enterprises (PSEs).
ANI
Jun 19, 2024 21:12 IST
New Delhi [India], June 19 (ANI): The government has monetized Rs 3.85 lakh crore through the core assets of different ministries and the assets of Public Sector Enterprises (PSEs).
In the budget for 2021-22, the government announced the monetization of potential core assets of the central government and assets of PSEs. The National Monetisation Pipeline (NMP), prepared by Niti Aayog in consultation with concerned ministries, has planned to monetise assets over a period of four years, starting in FY22.
The NMP included assets with a monetization potential of Rs 6 lakh crore during the four-year period. The total target for the first two years i.e., 2021-22 and 2022-23, under NMP was around Rs. 2.5 lakh crore, against which around Rs. 2.30 lakh crore was achieved.
During the financial year 2023-24, against the target of Rs. 1.8 lakh crore, the achievement has been around Rs. 1.56 lakh crore.
The achievement in 2023-24 is around 159 per cent of achievement in 2021-22.
The Ministries of Road Transport and Highways and the Ministry of Coal were the top two achievers in terms of the performance of individual ministries in the fiscal year 2023-24. The two ministries monetized assets for a total of Rs. 97,000 crore.
To enable investors to plan their investments efficiently and accelerate the monetization process, NHAI has already identified and published an indicative list of 33 assets to be monetized during 2024-25. Further, to increase the success rate of the bidding process, NHAI has posted on its website the macroeconomic assumptions considered for the calculation of the IECV.
The progress made by the Ministry of Coal under the NMP would result in increased investment in coal mining, thereby improving the energy security of the country through increased coal production and its supply to thermal power plants.
With regard to the achievement of individual ministries in 2023-24, the Ministries of Road Transport and Highways with Rs 40,314 crore, Coal with Rs 56,794 crore, Power with Rs 14,690 crore, Mines with Rs 4,090 crore, Petroleum and Natural Gas with Rs 9,587 crore, Urban Development with Rs 6,480 crore, and Shipping with Rs 7,627 crore have achieved more than 70 per cent of the target set for them. (ANI)
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