Friday, June 24, 2022

With transactions worth Rs 1 lakh cr, govt surpasses FY22 asset monetisation target

The government has completed transactions worth Rs 1 lakh crore under the National Monetisation Pipeline (NMP) in 2021-22, said Niti Aayog CEO Amitabh Kant

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  • The government had set an asset monetisation target of Rs 88,000 cr for FY2021-22
  • For 2022-23, the government has worked out a monetisation target of Rs 1.62 lakh crore, said an official

New Delhi: The government has completed transactions worth Rs 1 lakh crore under the National Monetisation Pipeline (NMP) in 2021-22, surpassing the programme’s initial target of Rs 88,000 crore, Niti Aayog CEO Amitabh Kant said on Tuesday. Addressing an event organised by the Public Affairs Forum of India (PAFI), Kant said India needs to fire on all cylinders, including manufacturing and services, to achieve high growth rates.

“India has the biggest asset monetisation programme… My asset monetisation target was Rs 88,000 crore for last year. I have crossed it by Rs 12,000 crore,” said Kant.

National Monetisation Pipeline

According to an official aware of the matter, assets monetised in 2021-22 are spread across sectors like road, power, coal and mining. The official said that the long-term impact of the transactions completed in the last fiscal is estimated to be Rs 9 lakh crore. He also said that for 2022-23, the government has worked out a monetisation target of Rs 1.62 lakh crore and has mandated all ministries to ensure that the target set for them for the current financial year is met.

In August 2021, Finance Minister Nirmala Sitharaman had announced a Rs 6-lakh-crore-plan spread over four years to unlock value in infrastructure assets across sectors. While presenting Budget 2021-22, Sitharaman had sad that monetising operating public infrastructure assets is a very important financing option for new infrastructure construction. “A National Monetisation Pipeline of potential brownfield infrastructure assets will be launched. An asset monetisation dashboard will also be created for tracking the progress and to provide visibility to investors,” she had said.

(With agency inputs)

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