FM Sitharaman Launches ₹16.7 Lakh Cr National Monetisation Pipeline 2.0

The pipeline estimates aggregate monetisation potential of ₹16.72 lakh crore, including ₹5.8 lakh crore of private sector investment, over five years.

Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman today launched the second phase of the asset monetisation programme — National Monetisation Pipeline 2.0 (NMP 2.0) — outlining an ambitious roadmap to unlock ₹16.72 lakh crore worth of public infrastructure assets over FY 2026–2030.

Developed by NITI Aayog in consultation with infrastructure line ministries under the mandate of the Union Budget 2025–26, NMP 2.0 builds on the success of the first phase and aligns with the vision of Viksit Bharat 2047.

₹16.72 Lakh Crore Monetisation Target

The pipeline estimates aggregate monetisation potential of ₹16.72 lakh crore, including ₹5.8 lakh crore of private sector investment, over five years.

The launch event was attended by the CEO of NITI Aayog, Secretaries of infrastructure ministries — including Road Transport, Railways, Power, Petroleum, Civil Aviation, Ports, Telecom, Tourism, Mining, Coal and Housing — along with senior officials from the Ministry of Finance and the Chief Economic Adviser.

Building on 90% Achievement of NMP 1.0

Smt. Sitharaman commended ministries and NITI Aayog for achieving nearly 90% of the ₹6 lakh crore target set under NMP 1.0.

She said NMP 2.0 is over 2.6 times larger than the previous pipeline and urged departments to surpass targets through proactive efforts.

“The learnings of NMP 1.0 must guide NMP 2.0 to ensure time-bound and optimised outcomes,” she said, emphasising process simplification and standardisation.

Why Asset Monetisation Matters

The Finance Minister highlighted that monetisation enables:

• Recycling of productive public assets

• Unlocking resources for new capital expenditure

• Mobilising funds without increasing fiscal burden

• Enhancing infrastructure quality and O&M standards

An empowered Core Group of Secretaries on Asset Monetisation (CGAM), chaired by the Cabinet Secretary, will continue to monitor progress.

Sector-Wise Monetisation Targets (FY 2026–30)

Sector	Total Value (₹ crore)	Share
Highways, MMLPs, Ropeways	4,42,000	26%
Power	2,76,500	17%
Ports	2,63,700	16%
Railways	2,62,300	16%
Coal	2,16,000	13%
Mines	1,00,000	6%
Urban Infrastructure	52,000	3%
Civil Aviation	27,500	2%
Petroleum & Natural Gas	16,300	1%
Warehousing & Storage	10,000	1%
Telecom	4,800	0.3%
Tourism	1,200	0.1%
Total	16,72,300	100%

Annual Phasing (₹ Crore)

• FY26: 2,49,493

• FY27: 3,26,435

• FY28: 3,46,312

• FY29: 3,68,852

• FY30: 3,81,208

The largest proceeds are expected to accrue to the Consolidated Fund of India, followed by direct private investment, PSU allocations and State Consolidated Funds (particularly from coal and mining royalties).

Monetisation Framework

NMP 2.0 will follow the broad framework of NMP 1.0 and deploy instruments such as:

• Public–Private Partnership (PPP) concessions

• Infrastructure Investment Trusts (InvITs)

• Securitisation of cash flows

• Strategic commercial auctions

• Partial divestment of listed entities

The choice of instrument will depend on asset nature, sector characteristics, market conditions and investor profile.

Whole-of-Government Approach

NMP 2.0 reflects multi-stakeholder consultations across ministries, regulators and industry. The report serves as a structured guidance document detailing methodology and roadmap for monetisation.

The Finance Minister stated that the programme is designed to be a value-accretive proposition for both public asset owners and private investors, ensuring improved infrastructure quality while supporting India’s growth momentum.

With an ambitious ₹16.7 lakh crore target and expanded private participation, NMP 2.0 is positioned as a central pillar of India’s infrastructure financing strategy in the run-up to Viksit Bharat 2047.