Infrastructure of India: The Government of India is going to spend Rs 10 lakh crore to strengthen the infrastructure. This amount will be for starting new projects or expanding old projects. After all, from where will the government of India get such a large amount for this? This was announced by Finance Minister Nirmala Sitharaman in her budget speech.
The finance minister said during the budget speech that the government will monetise public assets for this. This means that the government will either make money by selling selected government properties altogether or withdraw money by selling some of its stake in them. Raising money by renting out the property or disinvestment of a government company also comes under monetisation. Government assets that are generally less profitable than expected or become completely unuseable are chosen for this.
The second time will be a major initiative of asset monetisation
The Government of India is going to take this second major initiative of asset monetisation after 2021. Even in 2021, the asset monetisation initiative by the Government of India was very successful. This led to the accumulation of a large amount of money in the public exchequer and the unutilised government assets in the right way. The Government of India earned about six lakh crore rupees out of these. It put a good amount of money in the exchequer of the Government of India for infrastructure projects and welfare schemes.
Asset monetisation will last for five years
The Government of India has set a period of five years from 2025-2030 for asset monetisation. If a law or regulation becomes a hinderance in this process, the government will also improve them for the monetisation of the property. In the first step, the order of recognising the asset for monetisation will follow. It will then prepare a list of them and resort to auctions or other processes for monetisation.
