Government Monetises Rs 1.56 Lakh Crore Assets In 2023-24, Falling Short Of Rs 1.8 Lakh Crore Target Under NMP

Swarajya Staff

Jun 20, 2024, 12:52 PM | Updated 01:00 PM IST

Under NMP the highways sector has been assigned the target of monetising core assets worth Rs 1.6 trillion by FY25. (X)
Under NMP the highways sector has been assigned the target of monetising core assets worth Rs 1.6 trillion by FY25. (X)

The government monetised assets worth Rs 1.56 lakh crore under the National Monetisation Pipeline (NMP) in 2023-24, falling short of the Rs 1.8 lakh crore target, according to a statement by NITI Aayog on Wednesday (19 June).

Pursuant to the announcement made in the Union Budget 2021-22, the National Monetisation Pipeline was prepared by NITI Aayog in consultation with infrastructure line ministries.

The plan involved listing potential core assets of central government ministries and public sector enterprises (PSEs) for monetisation during the period 2021-22 to 2024-25. The aggregate monetisation potential of these brownfield infrastructure assets is estimated at Rs 6 lakh crore over this four-year period.

According to the statement, the total target for the first two years — 2021-22 and 2022-23 — was around Rs 2.5 lakh crore, against which about Rs 2.30 lakh crore was achieved.

For the financial year 2023-24, against the target of Rs 1.8 lakh crore, which is the highest among all the four years, the achievement has been around Rs 1.56 lakh crore, the statement said.

Regarding individual ministries' performance in 2023-24, the Ministry of Road Transport and Highways and the Ministry of Coal were the top two achievers, with a combined total of Rs 97,000 crore. The Ministry of Road Transport and Highways monetised assets worth Rs 40,314 crore in FY24, while the Ministry of Coal achieved Rs 56,794 crore.

Other significant ministries' monetised assets included power (Rs 14,690 crore), mines (Rs 4,090 crore), petroleum and natural gas (Rs 9,587 crore), urban development (Rs 6,480 crore), and shipping (Rs 7,627 crore).

All these ministries achieved 70 per cent of their monetisation targets, the statement added.

Asset monetisation, based on the philosophy of creation through monetisation, is aimed at tapping private sector investment for new infrastructure creation.

It is also necessary for creating employment opportunities, thereby enabling high economic growth and seamlessly integrating the rural and semi-urban areas for overall public welfare.

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