NITI Aayog and DEA organises a National-level virtual workshop on asset monetization

NITI Aayog, along with the Department of Economic Affairs (DEA), on Tuesday organized a national-level virtual workshop on asset monetization. Chaired by the Finance Minister, Nirmala Sitharaman, the workshop engaged with the Chief Secretaries of States and Administrators of Union Territories. The workshop elaborated on the strategic context of core and non-core asset monetization, along with detailed discussions on the need for and modality of such monetization.

In her opening remarks, the Finance Minister highlighted the firm support provided by the Government by way of steady economic reforms, including the clear directional change provided under Budget 2021-22.

She mentioned that the investment planned under the National Infrastructure Pipeline (NIP) is critical for boosting growth in States.

Ministry of Finance in a tweet on Tuesday said, "Finance Minister Smt. @nsitharaman chaired the National Workshop with States/UTs on Asset Monetization organised by #NITIAayog through virtual conference in New Delhi today."

She said, the various initiatives in this year's Budget will facilitate funding for infrastructure creation under NIP. Ms Sitharaman stressed on the need for monetization as an alternative funding mechanism and the potential therein for improved operational value. She also called for a proactive and collaborative approach by the Central and State agencies for achieving the objectives of the National Monetization Pipeline.

NITI Aayog CEO Amitabh Kant highlighted the strategic need for monetization and the various modalities therein. Echoing the Finance Minister's words, he emphasized that the partnership between Central and State agencies is imperative for leveraging the enormous resource efficiencies of the private sector and for recycling public funds for new infrastructure creation.

Secretary, Department of Investment and Public Asset Management Tuhin Kanta Pandey briefed the participants about monetization of non-core assets and disinvestment of public sector enterprises, including the transactions currently underway. He also highlighted the potential monetization opportunities for States and the pre-requisites for being successful in this regard.