The government monetised assets worth ₹1.56 lakh crore under the National Monetisation Pipeline (NMP) in 2023-24, lower than the target of ₹1.8 lakh crore, an official statement said on Wednesday.

Under the NMP, the aggregate monetisation potential of the central government's brownfield infrastructure assets has been estimated at ₹6 lakh crore over a four-year period, from FY22 to FY25.

According to the statement, the total target for the first two years -- 2021-22, and 2022-23 -- under the NMP was around ₹2.5 lakh crore, against which about ₹2.30 lakh crore was achieved.

"During the financial year 2023-24, against the target of ₹1.8 lakh crore, which is the highest among all the four years, the achievement has been around ₹1.56 lakh crore," it said.

Further, this achievement in 2023-24, is around 159 per cent of 2021-22, the statement added.

The ministries of road transport, and highways monetised assets, worth ₹40,314 crore in FY24, while the amounts for coal ministry was ₹56,794 crore, power (₹14,690 crore), mines (₹4,090 crore), petroleum, and natural gas (Rs 9,587 crore), urban (Rs 6,480 crore), and shipping (Rs 7,627 crore), the statement said.

All these ministries achieved 70 per cent of their monetisation targets, it added.

Asset monetisation is aimed at tapping private sector investment to create new infrastructure.

According to the statement, to enable the investors plan their investments efficiently, and thereby accelerate the monetisation process, NHAI has already identified, and published an indicative list of 33 assets to be monetised during 2024-25.

Further, the statement said to increase the success rate of the bidding process, NHAI has placed on its website, the macro economic assumptions, considered for calculation of IECV.

Asset monetisation, based on the philosophy of creation through monetisation, is aimed at tapping private sector investment, for new infrastructure creation.

It also creates employment opportunities, thereby enabling high economic growth, and integrating the rural, and semi-urban areas for overall public welfare.

Pursuant to the announcement made in the Union Budget 2021-22, the NMP listing potential core assets of the central government ministries/PSEs for monetisation during 2021-22 to 2024-25 was prepared by NITI Aayog, in collaboration with the infrastructure ministries concerned.