23-Sep-2021: Rs. 42.8 lakhs donated to Clean Ganga Fund
Conservation and rejuvenation of Ganga has been a priority of Prime Minister Shri Narendra Modi led government since 2014. The main goal of the flagship program - Namami Gange is to make Ganga free from pollution. Prime Minister Shri Narendra Modi’s initiative of the Clean Ganga Fund has started attracting masses and corporations. Many individuals, companies, PSUs and even religious trusts have contributed to the Clean Ganga Fund in the past few years.
Trimble Group’s Trimble Mobility Solutions India Private Limited (TMSIP) has contributed42.8 lakhs Rs. towards the Clean Ganga Fund. Mr. Sudhir R. Kamath, Sr. Director Finance and Mr. Sudarshan Mohan, Operations Director- India, TMSIP presented the demand draft to Shri Rajiv Ranjan Mishra, Director General, National Mission for Clean Ganga. This is a part of the company’s CSR initiative.
Complimenting the contribution, DG, NMCG said that rejuvenation of the national river Ganga needs collaborative efforts of everyone and Corporates have been making important contributions in this direction. He expressed his heartfelt gratitude to TMSIP and said that such efforts will encourage other corporate houses to join hands for rejuvenation of Ganga. Noting that this company is involved in geo spatial technology, this led to further discussion on several initiatives of use of such technology in Namami Gange such as LIDAR mapping etc.
Recently, the Prime Minister has urged people to participate in an e-auction of the gifts and mementoes he has received. This includes the special mementoes given by heroes of the Tokyo Olympics and Tokyo Paralympics, to the Prime Minister. The Clean Ganga Fund has received an over-whelming response from across the country.
8-Apr-2021: Clean Ganga Fund Playing An Instrumental Role In Ganga Conservation& Rejuvenation
Since coming to power in the year 2014, conservation and rejuvenation of river Ganga has been Prime Minister Shri Narendra Modi’s priority. The main goal of the Government’s flagship program Namami Gange has been to make Ganga clean and restore its pristine glory. Rejuvenation of such a long river not only poses tremendous challenges but also requires huge investment. The Government has already quadrupled the budget, but still, it will not be sufficient for such a mammoth amount of work. Therefore, a Clean Ganga Fund was created by the Government, in which everyone can contribute funds to clean the river Ganga.
“The Clean Ganga Fund began as an initiative to harness the enthusiasm of people for Ganga and to bring them closer to the Ganga and inculcate a sense of ownership. It has been heartening to note that major organizations and general public at large are coming forward to contribute to the Ganga fund, some even regularly and from their pension as well, which only strengthens our resolve at the Mission to achieve our objective of a clean and healthy Ganga,” said Shri Rozy Aggarwal, Executive Director Finance, National Mission for Clean Ganga (NMCG).
The outcome of the Government's commitment to the Ganga is that today, not only from the country but also from abroad people are contributing to the Clean Ganga Fund for conservation of Ganga. As on March 2021, funds of Rs 453 crore have been deposited in the Clean Ganga Fund. Out of which major projects have been/are being executed. These projects include Development of Gauri Kund near Kedarnath by the Uttarakhand Tourism Development Board, Treatment Works of 5 drains, Reconstruction of ghats and shamans, Construction of Har Ki Pauri Complex in Haridwar and Afforestation in various areas.
In 2020-2021, around 14.18 crores have been received. Out of this, Petronet LNG Limited has contributed 1.5 crores. At the same time, Power Grid Corporation has also contributed more than 1 crore. While AAI Cargo Logistics has contributed Rs 1.45 crore. Apart from this, Sri Dharmasthala Manjunatheshwar Dharmotthan Trust, Karnataka has contributed Rs.15 lakhs. NamamiGange and Clean Ganga Fund express their heartfelt gratitude for these contributions and hope they will continue to contribute in the same way in future. This is the first time a temple trust has contributed to Clean Ganga Fund and they have also pledged their support to increase public awareness about Ganga rejuvenation.
Shri Rajiv Ranjan Mishra, Director General, NMCG made the appeal that, “Namami Gange is one of the most complex projects implemented ever in the world. For this the participation of all the regions of the country and every citizen is necessary. We can all contribute to the cleanliness of the river Ganga.”
15-Jan-2019: NMCG Officials and Partners Come Together to Contribute to Clean Ganga Fund
The officials and partners of National Mission for Clean Ganga (NMCG) came together on one platform, to make personal donations to the Clean Ganga Fund on a voluntary basis. Officials from various executing agencies, stakeholders and partners with Team NMCG including State Bank of India, Union Bank of India, Engineers India Ltd., WAPCOS, HDFC etc. contributed to the Clean Ganga Fund at an event held at the NMCG headquarters.
Director General, NMCG, Shri Rajiv Ranjan Mishra requested all partners and stakeholders to contribute to the Clean Ganga Fund and become a part of this great mission to clean our national river. He said, “To sustain this mission, public outreach is a major strategy and therefore we seek more and more people and cooperates to contribute to the CGF and become partners in the Clean Ganga Mission. Joining the cause is more important than the monetary contribution. Many corporates have come forward and joined us as partners. For example HCL has taken up afforestation in a big way and is also in the process of setting up Rudraksh plantation in Uttarakhand in association with INTACH, Indorama has taken up construction of ghats, etc.”
The Clean Ganga Fund was established as a Trust under the Indian Trusts Act, duly approved by the Union Cabinet and with the Union Finance Minister heading the Board. DG, NMCG acts as the CEO of the Clean Ganga Fund.
Domestic donors to the CGF are eligible for 100% income tax exemption under Section 80 G (1) (i) of the Income Tax Act 1961. Contributions to CGF also fall within the purview of CSR activity as defined in Schedule VII to the Companies Act, 2013.
Contributions to CGF are being received in its current account with the New Delhi Main Branch of the State Bank of India. The total fund available in CGF as on date is Rs. 269.12 crores. Out of this, projects worth Rs. 203. 91 crores have already been taken up in areas such as afforestation, treatment of nalas through in-situ bioremediation process, redevelopment of ghats and crematoria and provision of amenities.
It is most important to see more and more people contributing towards Clean Ganga Fund which would bring more people participation and ownership towards this great objective. It is noteworthy that contributions from individual donors is about Rs. 10.92 crores so far. Various modes have been facilitated now to make easy for individual contribution.
In today’s event, a total amount of Rs. 2, 65, 879/- was donated to the Clean Ganga Fund. 70-80 NMCG officials along with 30 officials from partner organizations contributed to the fund. Collections were made through two SBI ATM vans stationed at NMCG headquarters, four payment gateways and through QR codes to facilitate payment through any gateway.
Donations to the Clean Ganga Fund can be made through online payment gateway by logging onto www.cleangangafund.com and scanning the QR code on the website, individuals can make payments through BHIM UPI/PAYTM app (that can be easily downloaded from Google Playstore). Donations can also be made through Cheques/Demand Drafts in favour of ‘Clean Ganga Fund’ A/C no. 34213740838.
2-Aug-2018: NRI fund for Ganga and Yamuna rivers
To harness the enthusiasm of Non-Resident Indians (NRIs) and Persons of Indian Origins (PIOs) to contribute towards the conservation of the river Ganga, the Union Finance Minister announced, in his budget speech for FY 2014 – 15, setting up a NRI fund to enable them to contribute towards the conservation efforts of the River Ganga. Establishment of Clean Ganga Fund (CGF) was approved by the Union Cabinet on 24 September 2014 and it was established on 21 January, 2015 as a Trust under the Indian Trusts Act, 1882.
NRIs / PIOs have contributed over Rs.18.92 lacs to the Clean Ganga Fund till date. No such proposal is under consideration to constitute any separate fund for Yamuna.
23-Aug-2021: Finance Minister launches the National Monetisation Pipeline
Union Minister for Finance and Corporate Affairs, Smt Nirmala Sitharaman, today launched the asset monetisation pipeline of Central ministries and public sector entities: ‘National Monetisation Pipeline (NMP Volumes 1 & 2)’. The pipeline has been developed by NITI Aayog, in consultation with infrastructure line ministries, based on the mandate for ‘Asset Monetisation’ under Union Budget 2021-22. NMP estimates aggregate monetisation potential of Rs 6.0 lakh crores through core assets of the Central Government, over a four-year period, from FY 2022 to FY 2025.
Volumes 1 and 2 of the report on NMP was released today in the presence of Vice Chairman (NITI Aayog), CEO (NITI Aayog), and Secretaries of infrastructure line ministries included under the pipeline—Roads, Transport and Highways, Railways, Power, Pipeline and Natural Gas, Civil Aviation, Shipping Ports and Waterways, Telecommunications, Food and Public Distribution, Mining, Coal and Housing and Urban Affairs—along with Secretary (Department of Economic Affairs) and Secretary (Department of Investment and Public Asset Management).
Union Minister of Finance, while launching the pipeline, said, “The Asset Monetisation programme has taken shape because of the vision of our Hon’ble Prime Minister who has always believed in universal access to high-quality and affordable infrastructure to the common citizen of India. Asset monetisation, based on the philosophy of Creation through Monetisation, is aimed at tapping private sector investment for new infrastructure creation. This is necessary for creating employment opportunities, thereby enabling high economic growth and seamlessly integrating the rural and semi-urban areas for overall public welfare.” Smt. Sitharaman further enumerated the reforms and initiatives undertaken by the current Government towards accelerated infrastructure development and for incentivizing private sector investments. This included the recent ‘Scheme of Financial Assistance to States for Capital Expenditure’, which incentivizes State Governments to recycle State Government-owned asset for fast-tracking greenfield infrastructure.
“The strategic objective of the programme is to unlock the value of investments in brownfield public sector assets by tapping institutional and long-term patient capital, which can thereafter be leveraged for further public investments,” Vice Chairman, NITI Aayog, said during the launch. He emphasized on the modality of such unlocking, which is envisaged to be by way of structured contractual partnership as against privatization or slump sale of assets.
NMP is envisaged to serve as a medium-term roadmap for identifying potential monetisation- ready projects, across various infrastructure sectors. CEO, NITI Aayog said, “The NMP is aimed at creating a systematic and transparent mechanism for public authorities to monitor the performance of the initiative and for investors to plan their future activities. Asset Monetisation needs to be viewed not just as a funding mechanism, but as an overall paradigm shift in infrastructure operations, augmentation and maintenance considering private sector’s resource efficiencies and its ability to dynamically adapt to the evolving global and economic reality. New models like Infrastructure Investment Trusts & Real Estate Investment Trusts will enable not just financial and strategic investors but also common people to participate in this asset class thereby opening new avenues for investment. I hence consider the NMP document to be a critical step towards making India’s Infrastructure truly world class.”
NMP is a culmination of insights, feedback and experiences consolidated through multi-stakeholder consultations undertaken by NITI Aayog, Ministry of Finance and line ministries. Several rounds of discussion have been held by NITI Aayog with the stakeholders. The pipeline has been deliberated at length in inter-ministerial meeting chaired by Cabinet Secretary. This is therefore a whole of a government initiative.
Secretaries of all infrastructure ministries affirmed their resolve towards achieving their respective targets set under NMP, working jointly with NITI Aayog and Ministry of Finance.
As part of a multi-layer institutional mechanism for overall implementation and monitoring of the Asset Monetization programme, an empowered Core Group of Secretaries on Asset Monetization (CGAM) under the chairmanship of Cabinet Secretary has been constituted. The Government is committed to making the Asset Monetisation programme, avalue-accretive proposition both for the public sector and private investors/developers, through improved infrastructure quality and operations and maintenance. This is aimed at achieving the broader and longer-term vision of ‘inclusiveness and empowerment of common citizens through best in class infrastructure’.
National Monetisation Pipeline: An Introduction
Union Budget 2021-22 has identified monetisation of operating public infrastructure assets as a key means for sustainable infrastructure financing. Towards this, the Budget provided for preparation of a ‘National Monetisation Pipeline (NMP)’ of potential brownfield infrastructure assets. NITI Aayog in consultation with infra line ministries has prepared the report on NMP.
NMP aims to provide a medium term roadmap of the programme for public asset owners; along with visibility on potential assets to private sector. Report on NMP has been organised into two volumes. Volume I is structured as a guidance book, detailing the conceptual approaches and potential models for asset monetisation. Volume II is the actual roadmap for monetisation, including the pipeline of core infrastructure assets under Central Govt.
Framework: The pipeline has been prepared based on inputs and consultations from respective line ministries and departments, along with the assessment of total asset base available therein. Monetization through disinvestment and monetization of non-core assets have not been included in the NMP. Further, currently, only assets of central government line ministries and CPSEs in infrastructure sectors have been included. Process of coordination and collation of asset pipeline from states is currently ongoing and the same is envisaged to be included in due course.
The framework for monetisation of core asset monetisation has three key imperatives.
This includes selection of de-risked and brownfield assets with stable revenue generation profile with the overall transaction structured around revenue rights. The primary ownership of the assets under these structures, hence, continues to be with the Government with the framework envisaging hand back of assets to the public authority at the end of transaction life.
Estimated Potential
Considering that infrastructure creation is inextricably linked to monetisation, the period for NMP has been decided so as to be co-terminus with balance period under National Infrastructure Pipeline (NIP).
The aggregate asset pipeline under NMP over the four-year period, FY 2022-2025, is indicatively valued at Rs 6.0 lakh crore. The estimated value corresponds to ~14% of the proposed outlay for Centre under NIP (Rs 43 lakh crore). This includes more than 12 line ministries and more than 20 asset classes. The sectors included are roads, ports, airports, railways, warehousing, gas & product pipeline, power generation and transmission, mining, telecom, stadium, hospitality and housing.
The top 5 sectors (by estimated value) capture ~83% of the aggregate pipeline value. These top 5 sectors include: Roads (27%) followed by Railways (25%), Power (15%), oil & gas pipelines (8%) and Telecom (6%).
In terms of annual phasing by value, 15% of assets with an indicative value of Rs 0.88 lakh crore are envisaged to be rolled out in the current financial year (FY 2021-22). However, the aggregate as well as year on year value under NMP is only an indicative value with the actual realization for public assets depending on the timing, transaction structuring, investor interest etc.
The assets and transactions identified under the NMP are expected to be rolled out through a range of instruments. These include direct contractual instruments such as public private partnership concessions and capital market instruments such as Infrastructure Investment Trusts (InvIT) among others. The choice of instrument will be determined by the sector, nature of asset, timing of transactions (including market considerations), target investor profile and the level of operational/investment control envisaged to be retained by the asset owner etc.
The monetisation value that is expected to be realised by the public asset owner through the asset monetisation process, may either be in form of upfront accruals or by way of private sector investment. The potential value assessed under NMP is only an indicative high level estimate based on thumb rules. This is based on various approaches such as market or cost or book or enterprise value etc. as applicable and available for respective sectors.
Implementation & Monitoring Mechanism
As an overall strategy, significant share of the asset base will remain with the government.
The programme is envisaged to be supported through necessary policy and regulatory interventions by the Government in order to ensure an efficient and effective process of asset monetisation. These will include streamlining operational modalities, encouraging investor participation and facilitating commercial efficiency, among others. Real time monitoring will be undertaken through the asset monetisation dashboard, as envisaged under Union Budget 2021-22, to be rolled out shortly.
The end objective of this initiative to enable ‘Infrastructure Creation through Monetisation’ wherein the public and private sector collaborate, each excelling in their core areas of competence, so as to deliver socio-economic growth and quality of life to the country’s citizens.
3-Aug-2021: Health Minister Discretionary Grant
Under Health Minister’s Discretionary Grant (HMDG) financial assistance up to a maximum of Rs. 1.25 lakhs are provided to the poor indigent patients to defray a part of the expenditure on hospitalization/treatment in Government Hospitals for life threatening diseases covered under Rashtriya Arogya Nidhi (RAN) in cases where free medical facilities are not available. Only those having annual family income up to Rs.1.25 lakhs and below are eligible for financial assistance under the scheme.