Centre-state cooperation needed to boost infra: Nirmala Sitharaman


2021-03-09 23:37:41

NEW DELHI: Finance minister Nirmala Sitharaman on Tuesday said that asset monetisation needs to be viewed not just as a funding mechanism, but as an overall strategy for bringing about a paradigm shift in augmenting and maintenance of infrastructure.
Chairing the national workshop on asset monetisation, the FM said materialising the vision of a $5-trillion economy, while striking the right balance between fiscal imperatives and socio-economic welfare, can only be achieved through active collaboration between the public and private sectors. She also called for close cooperation between the Centre and states for development of infrastructure.
Sitharaman also underlined the government’s resolve for value creation and improvement in the productivity of brownfield infrastructure assets through innovative instruments. The government has identified asset monetisation and privatisation as two thrust areas to raise revenues and overhaul state-run enterprises. The workshop on asset monetisation was organised by government think tank NITI Aayog, along with the department of economic affairs (DEA) and saw the participation of chief secretaries of states and administrators of Union Territories.
The FM said investments planned under the National Infrastructure Pipeline (NIP) are is critical for boosting growth in states and the various initiatives in this year’s Budget will facilitate funding for infrastructure creation under the NIP.
NITI Aayog CEO Amitabh Kant highlighted the strategic need for monetisation and the various modalities that are involved. He said 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 infrastructure creation. Department of investment and public asset management ( Dipam) secretary Tuhin Kanta Pandey briefed participants about monetisation of non-core assets and disinvestment of public sector enterprises.



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