The Union government led by Prime Minister Narendra Modi had intensified its efforts to fetch money by monetising the assets. For the same, the Centre had brought the National Asset Monetisation Pipeline. The proposal announced by Union Finance Minister Nirmala Sitharaman aims at fetching 20,782 crore by monitising as many as 25 airports across the country.
However, the monetization of the airports will take place in a phased manner. As a pilot project, the Centre is said to be exiting the Joint Venture airports. On the same lines, two airports were reportedly zeroed by the government.
It is said that the Airports Authority of India (AAI) has a stake of 13 percent in Hyderabad and Bangalore airports and the government will withdraw its share from the airport paving way for their monetisation.
As the board of directors at the AAI had given their nod for the monetization of the government's take in the airports, the monetization process is just one step away. Once the Union Cabinet clears the decision, the monetization process will get completed reportedly.
On the other hand, the Union government had decided to hand over the Tirupati airport and the Bhubaneswar air[port to a private firm. As the two airports are smaller ones, the government will give the airports together.