The NMP will give visibility to investors and also serve as a medium-term roadmap for the asset monetisation initiative of the government.
Finance Minister Nirmala Sitharaman on Monday launched the National Monetisation Pipeline through which the government will be listing out its infrastructure assets worth Rs 6 lakh crore to be sold over the next four years.
The NMP comprises a four-year pipeline of the central government’s brownfield infrastructure assets. The NMP will give visibility to investors and also serve as a medium-term roadmap for the asset monetisation initiative of the government.
“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,” said the Finance Minister, while launching the NMP.
She added that by bringing in private participation, the government is going to monetise its assets better. “Whatever resource that you obtained by monetization, you are able to put in for further investment into infrastructure building,” she explained. She also said that infrastructure has been identified as a key focus for public spending for this year’s budget.
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“For those who have this question in mind — are we selling away the lands? No. National Monetisation Pipeline is talking about brownfield assets that need to be better monetised,” said the Finance Minister.
Sitharaman said the ownership of assets will remain with the government. “There will be a mandatory hand back. They (private sector partners) will have to give it back after a certain time,” she added. Sitharaman said the time has come to make the most of our assets.
“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,” Rajiv Kumar, Vice Chairman, NITI Aayog, said.
“This government is committed to making greater opportunities available for the private sector participation including in infrastructure. Infrastructure has huge multiplier effects. This is the next step in mobilising private capital for the development of infrastructure,” he added.
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