Government Monetises Rs 1.56 Lakh Crore in Assets under NMP for 2023-24

The government monetised assets worth Rs 1.56 lakh crore under the National Monetisation Pipeline (NMP) in 2023-24, falling short of the target of Rs 1.8 lakh crore. Over a four-year period, the aggregate monetisation potential is estimated at Rs 6 lakh crore. Various ministries contributed with road transport and highways leading at Rs 40,314 crore.

The government has successfully monetised assets valued at Rs 1.56 lakh crore under the National Monetisation Pipeline (NMP) for the financial year 2023-24, according to an official statement released on Wednesday. This figure, however, falls short of the ambitious target of Rs 1.8 lakh crore set for the year.

Over a span of four years, from FY22 to FY25, the aggregate monetisation potential of the central government's brownfield infrastructure assets has been projected at Rs 6 lakh crore. In the initial two years — 2021-22 and 2022-23 — the NMP aimed for a collective Rs 2.5 lakh crore, achieving Rs 2.30 lakh crore in the process.

Ministries across various sectors played pivotal roles in this initiative. The Ministry of Road Transport and Highways alone accounted for Rs 40,314 crore in FY24. The asset monetisation initiative is designed to attract private sector investments to spur new infrastructure, thus stimulating economic growth and creating employment opportunities.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)