India News | National Monetization Pipeline Shows Commitment of Centre Towards Building Robust Infrastructure: CII DG
Get latest articles and stories on India at LatestLY. Director General of Confederation of Indian Industry (CII) Chandrajit Banerjee on Monday called the launch of the National Monetization Pipeline (NMP) a commitment of the Central government towards building a robust and world-class infrastructure across the nation.
New Delhi [India], August 24 (ANI): Director General of Confederation of Indian Industry (CII) Chandrajit Banerjee on Monday called the launch of the National Monetization Pipeline (NMP) a commitment of the Central government towards building a robust and world-class infrastructure across the nation.
"India needs large investments in infrastructure for accelerating inclusive growth. The announcement of the NMP shows the commitment of the Government of India towards building a robust and world-class infrastructure across the country," Banerjee said.
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"The asset monetization is value creation for both government and investors. It will help the government generate resources which could be further plough back into infrastructure," he said.
Finance Minister Nirmala Sitharaman on Monday launched the NMP that includes the Centre's four-year plan to monetise its brownfield infrastructure assets.
Union Budget 2021-22 has identified the monetisation of operating public infrastructure assets as a key means for sustainable infrastructure financing. Towards this, the Budget provided for the preparation of an NMP of potential brownfield infrastructure assets. NITI Aayog in consultation with infra line ministries has prepared the report on NMP.
NMP aims to provide a medium-term roadmap of the programme for public asset owners; along with visibility on potential assets to the private sector. The report on NMP has been organised into two volumes. Volume I is structured as a guidance book, detailing the conceptual approaches and potential models for asset monetisation. Volume II is the actual roadmap for monetisation, including the pipeline of core infrastructure assets under Central Government.
The pipeline has been prepared based on inputs and consultations from respective line ministries and departments, along with the assessment of the total asset base available therein. Monetization through disinvestment and monetization of non-core assets have not been included in the NMP. Further, currently, only assets of central government line ministries and CPSEs in infrastructure sectors have been included. The process of coordination and collation of asset pipeline from states is currently ongoing and the same is envisaged to be included in due course.
The end objective of this initiative is to enable 'Infrastructure Creation through Monetisation' wherein the public and private sector collaborate, each excelling in their core areas of competence, so as to deliver socio-economic growth and quality of life to the country's citizens. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)