New Delhi: The Modi government has asked all ministries and departments to identify new assets so that they can be monetized expeditiously and the monetization process can be put back on track. The government says that the pace of monetization is much lower than the budget target for the current financial year. Against the revenue receipt target of Rs 1.6 lakh crore under the National Monetisation Pipeline for the financial year 2022-23 ending March 31, the government's revenue from monetization has been only Rs 33,443 crore in the first seven months. The central government now expects its revenue from the sale of new assets to touch Rs 1.24 lakh crore more than the budget estimate.
According to the report, there are several ministries, including railways, telecom, and petroleum, which are far from the target. They have been asked to accelerate the pace in this direction. The railways have been given a target of Rs 30,000 crore, while its revenue estimate has so far reached close to Rs 4,999 crore. The Telecom Ministry has been given a target of Rs 20,180 crore, while the sale of assets worth only Rs 4700 crore is still under process. By the end of the current financial year, there is no possibility of monetizing any assets of this ministry.
Similarly, the Petroleum Ministry has been given a revenue target of Rs 9,176 crore for the current financial year from monetization, but so far it has reached close to Rs 2000 crore. Ministries that have not been able to reach their target have been asked to identify new assets. The information related to the matter has also informed that the government is also sending a guideline in this regard to the ministries and departments. According to him, the move comes at a time when several ministries and departments have stopped monetization of several properties already identified.
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