National Monetisation Pipeline: Govt Garners Rs 96,000 Crore Through Asset Monetisation In FY22, Surpasses Rs 88,000 Crore Target
In just seven months since the launch of National Monetisation Pipeline, the government has garnered about Rs 96,000 crore through asset monetisation in financial year 2021-22, surpassing the target of Rs 88,000 crore for the last fiscal.
The amount could reportedly touch Rs 1 lakh crore as additional data comes in, reports Economic Times.
According to the report, assets worth Rs 23,000 crore were monetised in the roads and highways sector. Meanwhile, power sector generated Rs 9,500 crore, coal mining generated Rs 40,000 crore and mineral mining fetched Rs 18,700 crore.
Among the key investors were Canadian Pension Plan Investment Board, Ontario Teachers' Pension Plan, Capital Group and Utilico Emerging Markets Trust.
On Tuesday, Union Finance Minister Nirmala Sitharaman undertook the sector wise review on National Monetisation Plan (NMP) with NITI Aayog CEO Amitabh Kant and top officials of concerned infrastructure ministries.
“During FY-2021-22, transactions aggregating to about Rs 96,000 crore of accrual or investments by central and state government entities have been completed under the core asset monetisation programme,” an official was quoted in the report as saying.
“This will have a cumulative investment potential of Rs 9 lakh crore over the years.”
It should be noted that the NMP was launched in August last year and the Centre has set a target of Rs 6 lakh crore through asset monetisation in four years (FY 2022-25) with FY23 target pegged at Rs 1.67 lakh crore.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.