The Ashok and the adjacent hotel Samrat are among the eight India Tourism Development Corp assets listed under the National Monetisation Pipeline (NMP) announced by Finance Minister Nirmala Sitharaman last year.
The sources said investor consultation has already been undertaken and a Cabinet Committee on Economic Affairs note for the sale of the sprawling 25-acre property in the heart of the national capital is under consideration.
"The Ashok hotel's monetisation will take place through public-private partnership(PPP) mode and an indicative value of the hotel has been fixed at ₹7,409 crore," the sources told PTI.
In August 2021, Sitharaman announced the ₹6 lakh crore NMP over four years to unlock value in infrastructure assets across sectors.
Niti Aayog in consultation with infrastructure line ministries had prepared the report on the NMP.
The finance minister in a meeting with Niti Aayog CEO Parameswaran Iyer on November 14 reviewed the progress of NMP implementation.
The government has monetised assets worth ₹33,422 crore under the NMP in 2022-23 so far with the Coal Ministry leading the list by raising ₹17,000 crore, and the Ports and Shipping Ministry surpassing its overall fiscal target.
In 2021-22, the government surpassed the programme's first-year target of ₹88,000 crore by completing transactions worth ₹1 lakh crore.
The sources said that according to the government's latest estimate, there is likely to be a shortfall of ₹38,243 crore in realising the overall asset monetisation target of ₹1,62,422 crore in 2022-23.
"Likely realisation from asset monetisation under NMP in the current fiscal has been now estimated at ₹1,24,179 crore," they added.
