Union Minister for Finance and Corporate Affairs Nirmala Sitharaman today launched the second phase of the government’s asset monetisation initiative, National Monetisation Pipeline 2.0 (NMP 2.0). Developed by NITI Aayog in consultation with infrastructure line ministries, NMP 2.0 is aligned with the government’s Viksit Bharat mission, aiming to accelerate infrastructure development across the country.
The five-year pipeline, covering FY 2026–2030, estimates a total monetisation potential of ₹16.72 lakh crore, including ₹5.8 lakh crore from private sector investment. This ambitious target is more than 2.6 times higher than the target under NMP 1.0, which had successfully achieved nearly 90% of its ₹6 lakh crore goal over four years.
NMP 2.0 covers a broad range of sectors, including highways, railways, power, petroleum and natural gas, civil aviation, ports, urban infrastructure, coal, mines, telecom, and tourism. The highest monetisation potential is in highways (₹4.42 lakh crore), followed by power (₹2.76 lakh crore), ports (₹2.64 lakh crore), railways (₹2.62 lakh crore), and coal (₹2.16 lakh crore). The proceeds from asset monetisation projects will be allocated to the Consolidated Fund of India, PSUs or port authorities, state consolidated funds, and direct private sector investments, depending on the implementing agency and mode of monetisation.
Speaking at the launch, Sitharaman highlighted that NMP 2.0 builds on the lessons and best practices of NMP 1.0. She stressed the importance of process simplification and standardisation to ensure smooth and efficient monetisation. The Finance Minister also underscored that the programme will help recycle productive public assets, unlock resources for new projects, and mobilise funds for capital expenditure while minimising the government’s budgetary outgo.
The initiative is structured as a medium-term roadmap providing guidance to public asset owners and visibility to private investors. Implementation will use a variety of instruments, including public-private partnership (PPP) concessions, infrastructure investment trusts (InvITs), securitisation of cash flows, and strategic commercial auctions, with the choice of instrument tailored to the sector, asset type, and investor profile.
Monitoring of NMP 2.0 will be overseen by the Core Group of Secretaries on Asset Monetisation (CGAM), chaired by the Cabinet Secretary, ensuring that the programme remains value-accretive for both public sector entities and private investors. NMP 2.0 represents a comprehensive, whole-of-government approach to sustainable infrastructure financing, aiming to fuel India’s growth momentum while achieving the vision of Viksit Bharat.
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