The numbers for the last fiscal were discussed at a review meeting chaired by Finance Minister Nirmala Sitharaman on Tuesday.
The numbers for the last fiscal were discussed at a review meeting chaired by Finance Minister Nirmala Sitharaman on Tuesday.
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THE CENTRE has wrapped up transactions worth an estimated Rs 96,000 crore in 2021-22 under the National Monetisation Pipeline (NMP), surpassing the target of Rs 88,000 crore, according to a government official. The coal and mining sectors, roads and power assets were key to the monetisation target being surpassed last fiscal.
Sources said new models such as InViTs (Infrastructure Investment Trusts), REITS (Real Estate Investment Trusts) and public-private partnership models such as the toll-operate-transfer (TOT) in the roads sector and Mine Developer and Operator (MDO) contracts in the coal sector proved instrumental in the targets being met. It is learnt that railways assets, expected to be among the biggest contributors, relatively underperformed during the fiscal.
The numbers for the last fiscal were discussed at a review meeting chaired by Finance Minister Nirmala Sitharaman on Tuesday. The meeting was called to assess the progress of NMP, including the challenges and hurdles that some ministries faced, and was attended by Niti Aayog officials and secretaries of various ministries. The target for 2022-23 fiscal was fixed at Rs 1.67 lakh crore at the meeting.
In FY’22, the Ministry of Coal was the biggest contributor to the asset monetisation pipeline, generating a monetisation value of about Rs 40,000 crore through the auctioning of 22 coal blocks and awarding MDO contracts, the official said. Mineral mining assets achieved an estimated monetisation value of Rs 18,700 crore in FY22 after the completion of 31 mineral blocks auctions.
The Ministry of Road Transport and Highways achieved an overall monetisation value of about Rs 23,000 crore, according to the official. In FY22, close to 390 kilometres of roads were monetised under the Infrastructure Investment Trust (InvIT) mode and three Toll Operate
Transfer (TOT) bundles were bid out.
The Ministry of Power reported a monetisation achievement of Rs 9,500 crore after state-owned transmission major Power Grid Corporation undertook the monetisation of its first batch of transmission assets using the InvIT model. “Apart from that, the National Hydroelectric Power Corporation (NHPC) also completed securitisation of one of its operational hydel assets raising about Rs 1,000 crore,” the official said.
Source: https://indianexpress.com/article/business/economy/assets-worth-rs-96000-cr-monetised-in-2021-22-7866756/