The government on Monday introduced plans to raise as much as Rs 6 lakh crore by monetising assets over the next four years. Finance Minister Nirmala Sitharaman and top executives from the NITI Aayog broke down the plan at a press conference.
The pipeline will span several sectors, with respective ministries in charge of spearheading the plan. It will work in tandem with the National Infrastructure Plan. The assets included in the pipeline will come from various sectors, but the top three will be roads, railways and power. The finance minister said only brownfield projects were being considered under the pipeline and that the ownership of assets will remain with the government as there will be a mandatory hand-back by the private sector.
In other news, Reliance Industries is planning a super app in partnership with Whatsapp and is waiting to receive more clarity on the government’s ecommerce policy. Private weather forecaster Skymet has cut its projection for the Southwest monsoon in India to 94% of the long period average, with is a below-normal rainfall.
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