BackGovt surpasses FY22 asset monetisation target
Addressing an event organised by Public Affairs Forum of India (PAFI), Kant said India needs to fire on all cylinders, including manufacturing and services, to achieve high growth rates.
PremiumThe government has completed transactions worth ₹1 lakh crore under the National Monetisation Pipeline (NMP) in 2021-22, surpassing the ambitious programme's first-year target of ₹88,000 crore, Niti Aayog CEO Amitabh Kant said on Tuesday.
Addressing an event organised by 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 ₹88,000 crore for last year. I have crossed it by ₹12,000 crore," he said.
The key investors who acquired assets in FY22 include CPP Investments, Ontario Teachers Pension Plan and Utilico Emerging Markets Trust Plc, Mint reported earlier.
The sectors which contributed in a big way to the asset monetisation include roads, power and mining of coal and minerals.
Mint had earlier reported that the Centre has firmed up asset monetisation target of over ₹1.6 lakh crore for FY23. The proposals from various ministries are at different stages of processing.
The asset monetisation plan was announced by finance minister Nirmala Sitharaman in her union budget for FY22 as an important financing option for creating new infrastructure assets.
The plan entailed a pipeline of ₹6 lakh crore worth of assets to be monetised in a four year period till FY25.
The government expects the asset sale achieved in FY22 to trigger another ₹9 trillion of cumulative investments as the asset acquirers raise debt and expand their operations.
The idea is to crowd in private investments in infrastructure, a key element of the government’s economic recovery strategy.
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