The central government is preparing to sell its remaining stakes in Bengaluru, Hyderabad and Delhi. The stake will be sold to meet the target of raising 2.5 lakh crore rupees through asset monetization.
Cabinet can give approval soon
According to the information given by the sources, the Civil Aviation Ministry (Ministry of Civil Aviation) will get the necessary approval for divestment in the joint venture that oversees Delhi, Mumbai airport operations. The proposal will be placed before the cabinet in the next few days for approval. For the next round of selection for privatization, 13 airports will have both profitable and non-profitable airports. In the first round of personalization in the Modi government, Adani Group got 6 airports. In which Lucknow. Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram and Guwahati.
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The Airport Authority of India (AAI), which comes under the Civil Aviation Ministry, has the responsibility of managing more than 100 airports across the country. Adani owns a 74 per cent stake in Mumbai Airport, while AAI owns 56 per cent. Similarly, GMR has a 54 per cent stake in Delhi’s International Airport. The airport authority holds a 26 percent stake. While Fraport AG and Eraman Malaysia hold 10–10 per cent stake. The Andhra Pradesh government has a 26 per cent stake in Hyderabad International Airport with AAI. Similarly, the Government of Karnataka has 26 per cent stake in Bengaluru Airport with AAI.
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Preparation for monetization of 100 government assets
Finance Minister Nirmala Sitharaman said during the budget speech of 2021-22 that the asset monotization of non-core of all government companies can play a very important role in the development of new infrastructure in the country. Similarly, PM Modi said last month that the government is in the process of monetization of 100 government properties like oil and gas piped line. With which 2.50 lakh crore rupees can be achieved.