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

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.

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.