After the announcement of PM Modi regarding the Asset monetisation target, NITI Aayog has started to carry out this work. For this, he has kept in touch with different ministries and departments.
The target of disinvestment and privatization has been set at Rs 1.75 lakh crore.
The Modi government is set to revive the economy by riding on the policy of disinvestment, privatisation and asset monetisation. PM Modi has set a target of collecting 2.5 lakh crore rupees in the next three years with the help of asset monetization. According to the Times of India report, the government wants to collect half of the target i.e. 1.3 lakh crore rupees from asset monetization in the railway and telecom sector. For the financial year 2021-22, the government has set a target of disinvestment and privatization at Rs 1.75 lakh crore.
Prime Minister Narendra Modi had said recently that thinking of privatization of government companies will lead to better utilization of resources. The property lying idle after privatization will be properly utilized. The government has identified more than 100 such properties, which will be sold in the coming time. This week a workshop was organized by NITI Aayog. This workshop was headed by Nirmala Sitharaman. Apart from them, top bureaucrats from different ministries attended this workshop.
90 crore from Railways and 40 thousand crore fund from Telecom
After PM Modi’s announcement regarding asset monetization, NITI Aayog has started to carry out this work. For this, he has kept in touch with different ministries and departments. NITI Aayog has set a target of raising 90 thousand crores with the help of Asset Monetization of Railways. Apart from this, a target has been set to raise 40 thousand crores by selling the telephone towers and optical fiber infrastructure of BSNL and MTNL.
BSNL will incur further losses for 2 years
The Parliamentary Standing Committee on Information Technology said in its report on Wednesday that the loss-making public sector Bharat Sanchar Nigam Limited (BNSL) is expected to turn profitable from FY 2023-24. This will depend on the implementation of the proposed plans and strategies under the Revival Package. BSNL is profitable in terms of EBITDA. EBITDA refers to income before interest, tax, depreciation and amortization. The government approved the revival package to bring BSNL and MTNL back on track in October 2019. This includes voluntary retirement, support for 4G spectrum, market (sell or lease) of major and non-core assets, government guarantee for bonds to raise capital by PSUs and short-term merger of MTNL and BSNL .
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NITI Aayog has identified 100 properties
According to another report in the Economic Times report, the Center has planned to raise a huge fund of Rs 5 lakh crore through privatization in the next four years (by 2025). For this, NITI Aayog has also identified 100 important government assets. Through privatization, it is estimated that 5 lakh crores will come to the public exchequer. 31 important properties of 10 different ministries and public sector enterprises have been identified and its list has also been submitted to the concerned ministries.