The crucial programme is also being monitored by the cabinet secretary to ensure that various ministries, which are part of the plan step up their efforts to ensure that the target is met. “We will be very close to the target for FY22 and if there is any gap it won’t be wide,” said an official while detailing the strategy.
While roads and power ministries are in line to meet their targets, thanks to REITs and InvITs, which are like mutual funds that pool assets, ministries including railways, petroleum, mining and sports are way behind schedule. In fact, railways is seen to be the biggest laggard after a change of guard.
“Progress needs to be stepped up as it is a crucial part of the plan,” said an official. The Railways have a target of raising Rs 17,810 crore under the national monetisation pipeline in the current financial year. Its plans to get the private sector to run passenger trains received a cold response and work is in progress to revise the terms, which many believe is being held up due to the powerful bureaucracy in the ministry.
While officers see REITs and InvITs as safer bets, transfer of assets to individual entities are seen to be risky, just like strategic sale, prompting babus to be “extra cautious”.
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