Govt monetises Rs 1.56 trn assets in FY24, falls short of Rs 1.8 trn target

The government monetised assets worth Rs 1.56 trillion under the National Monetisation Pipeline (NMP) in 2023-24, lower than the target of Rs 1.8 trillion , an official statement said on Wednesday.

Under the NMP, the aggregate monetisation potential of the central government's brownfield infrastructure assets has been estimated at Rs 6 trillion over a four-year period, from FY22 to FY25.

According to the statement, the total target for the first two years -- 2021-22 and 2022-23 -- under NMP was around Rs 2.5 trillion , against which around Rs 2.30 trillion was achieved.

"During the financial year 2023-24, against the target of Rs 1.8 trillion , which is the highest among all the four years, the achievement has been around Rs 1.56 trillion ," it said.
 

Further, this achievement in 2023-24 is around 159 per cent of 2021-22, the statement added.

The ministries of road transport and highways monetised assets worth Rs 40,314 crore in FY24, while the amounts for coal ministry was Rs 56,794 crore, power (Rs 14,690 crore), mines (Rs 4,090 crore), petroleum and natural gas (Rs 9,587 crore), urban (Rs 6,480 crore), and shipping (Rs 7,627 crore), the statement said.

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

Asset monetisation is aimed at tapping private sector investment to create new infrastructure.