New Delhi [India], June 20 (HBTV): The government has successfully monetized INR 3.85 lakh crore through the core assets of various ministries and Public Sector Enterprises (PSEs).

In the 2021-22 budget, the government announced plans to monetize potential core assets of the central government and PSEs.

The National Monetisation Pipeline (NMP), developed by Niti Aayog in consultation with concerned ministries, aims to monetize assets over a four-year period starting from FY22, with assets tottaling INR 6 lakh crore earmarked for monetization.

By FY23-24, the government had targeted INR 2.5 lakh crore for the first two years of the NMP, achieving around INR 2.30 lakh crore.

In FY23-24 alone, against a target of INR 1.8 lakh crore, the government achieved approximately INR 1.56 lakh crore, marking a substantial increase of 159 per cent compared to FY21-22.

During FY23-24, the Ministries of Road Transport and Highways, and the Ministry of Coal emerged as top performers among individual ministries, collectively monetizing assets worth INR 97,000 crore.

To facilitate efficient investment planning and expedite the monetization process, the National Highways Authority of India (NHAI) has identified and published a preliminary list of 33 assets slated for monetization in FY24-25.

Furthermore, NHAI has disclosed macroeconomic assumptions used to calculate the Investment Equivalent of Capital Value (IECV) on its website to enhance bidding process transparency.

The Ministry of Coal’s progress under the NMP is expected to attract increased investments in coal mining, thereby bolstering the country’s energy security through enhanced coal production and supply to thermal power plants.

Notably, several ministries achieved significant milestones in FY23-24, with the Ministries of Road Transport and Highways realizing INR 40,314 crore, Coal achieving INR 56,794 crore, Power securing INR 14,690 crore, Mines contributing Rs 4,090 crore, Petroleum and Natural Gas generating INR 9,587 crore, Urban Development accruing INR 6,480 crore, and Shipping earnings INR 7,627 crore, all surpassing 70 per cent of their respective targets.

(ANI) This is a syndicated news feed. HBTV has edited it for clarity.