Sitharaman Unveils NMP 2.0 with ₹16.72 Lakh Cr Target

Union Finance Minister Nirmala Sitharaman on Monday launched the second phase of the National Monetisation Pipeline (NMP 2.0), outlining an estimated asset monetisation potential of ₹16.72 lakh crore for the five-year period from FY26 to FY30. The programme has been prepared by NITI Aayog in consultation with infrastructure ministries, following the mandate announced in the Union Budget 2025–26.
NMP 2.0 includes private sector investment of ₹5.8 lakh crore and is designed to accelerate infrastructure development in line with the government’s Viksit Bharat vision. The launch event was attended by the Chief Executive Officer of NITI Aayog, Secretaries from key infrastructure ministries, the Finance Secretary, Secretary (Law), and the Chief Economic Adviser.
Addressing the gathering, Sitharaman commended ministries for achieving nearly 90% of the ₹6 lakh crore target set under NMP 1.0 over four years. She described the new phase as ambitious, with a target more than 2.6 times that of the first pipeline, and urged departments to exceed the goals through proactive measures. Emphasising process simplification and standardisation, she said lessons from NMP 1.0 would help ensure time-bound and seamless execution.
The Finance Minister highlighted asset monetisation as a mechanism for recycling public assets, unlocking capital for new infrastructure projects and capital expenditure while reducing budgetary pressures. NMP 2.0 outlines monetisation through limited-period asset transfers, divestment in listed entities, securitisation of cash flows, and strategic commercial auctions.
An empowered Core Group of Secretaries on Asset Monetisation, chaired by the Cabinet Secretary, will oversee implementation. Proceeds from monetisation will flow to the Consolidated Fund of India for central projects, accrue to public sector undertakings and port authorities where applicable, or be allocated to State Consolidated Funds in sectors such as mining and coal. Private sector investment will be recorded separately in relevant projects.
Sector-wise, highways, logistics parks and ropeways account for ₹4.42 lakh crore, followed by power (₹2.76 lakh crore), ports (₹2.63 lakh crore), railways (₹2.62 lakh crore), coal (₹2.16 lakh crore), and mines (₹1 lakh crore), among others. Annual monetisation is projected to rise steadily from FY26 to FY30.
The government described NMP 2.0 as a medium-term roadmap offering clarity to public asset owners and investment visibility to private players, with transaction values remaining indicative and subject to change at execution.