CURRENT AFFAIRS

Detailed explanation-1: -The government has set a target of ₹6 lakh crore through asset monetisation in FY22-25 with FY23 target pegged at ₹1.67 lakh crore.

Detailed explanation-2: -The Centre’s National Monetisation Pipeline (NMP) could fall short of yearly target of Rs. 1.6 trillion for 2022-23 by around Rs. 500 billion, as per a report in Financial Express.

Detailed explanation-3: -As against the FY23 NMP target to generate Rs 1.62 trillion in revenues and investments, officials indicted that the shortfall could be about Rs 50,000 crore. Last year, a sum of about Rs 1 trillion was raised through the monetisation route as against the target of Rs 88,200 crore thanks to mining sector.

Detailed explanation-4: -The estimated aggregate monetisation potential under NMP is ₹6 lakh crore through core assets of the Central Government, over a four-year period, from FY20-25. Against the monetisation target of ₹0.9 lakh crore in FY22, ₹0.97 lakh crore have been achieved during the period under roads, power, coal and mines.

Detailed explanation-5: -Asset Monetization involves creation of new sources of revenue by unlocking the value of the otherwise unutilized or underutilized public assets. It is globally recognised that public assets are a significant resource for the economy.