Union Minister for Finance and Corporate Affairs Nirmala Sitharaman today launched the National Monetisation Pipeline 2.0, marking the second phase of the Government’s structured asset monetisation roadmap for the period FY 2026 to FY 2030. The pipeline has been prepared by NITI Aayog in consultation with infrastructure line ministries in pursuance of the Asset Monetisation Plan 2025 to 30 announced in the Union Budget 2025 to 26.
National Monetisation Pipeline 2.0 estimates an aggregate monetisation potential of ₹16.72 lakh crore over five years, including private sector investment of ₹5.8 lakh crore. The target is more than 2.6 times higher than that under NMP 1.0, reflecting a significant scale up in ambition and scope.
The launch was attended by the CEO of NITI Aayog, Secretaries of infrastructure ministries including Road Transport and Highways, Railways, Power, Petroleum and Natural Gas, Civil Aviation, Ports Shipping and Waterways, Telecommunications, Tourism, Food and Public Distribution, Mining, Coal and Housing and Urban Affairs, along with Secretaries from the Ministry of Finance, the Secretary Law and the Chief Economic Adviser.
In her address, Nirmala Sitharaman congratulated ministries and NITI Aayog for achieving nearly 90 percent of the ₹6 lakh crore target set under NMP 1.0. She stated that NMP 2.0 is aligned with the infrastructure vision of Viksit Bharat and will play a crucial role in accelerating growth momentum. Emphasising process efficiency, she urged departments to simplify and standardise procedures to ensure seamless monetisation and to proactively exceed the indicated targets.
She highlighted that asset monetisation enables recycling of productive public assets, unlocking capital for reinvestment in new infrastructure projects while minimising budgetary outgo. The programme, she said, represents a strategic financing approach to sustain capital expenditure without straining fiscal resources.
NMP 2.0 has been structured as a guidance framework detailing methodology, sectoral roadmap and transaction design. It continues the broad framework of NMP 1.0, including transfer of operational assets for limited periods, divestment of portions of listed entities, securitisation of cash flows and strategic commercial auctions.
An empowered Core Group of Secretaries on Asset Monetisation under the chairmanship of the Cabinet Secretary will monitor implementation. The initiative has been developed through multi stakeholder consultations involving NITI Aayog, the Ministry of Finance and line ministries.
The aggregate asset pipeline for FY 2026 to FY 2030 is indicatively valued at ₹16,72,300 crore. Sector wise targets are as follows:
Table 1 Sector wise NMP 2.0 Award Targets over FY 2026 to 30 in INR Crore
Sl Sector Total Monetisation Value Percentage of total
1 Highways MMLPs Ropeways 4,42,000 26%
2 Railways 2,62,300 16%
3 Power 2,76,500 17%
4 Petroleum and natural gas 16,300 1%
5 Civil aviation 27,500 2%
6 Ports 2,63,700 16%
7 Warehousing and storage 10,000 1%
8 Urban infrastructure 52,000 3%
9 Coal 2,16,000 13%
10 Mines 1,00,000 6%
11 Telecom 4,800 0.3%
12 Tourism 1,200 0.1%
Total 16,72,300 100%
Highways including multi modal logistics parks and ropeways account for the largest share at 26 percent. Power, railways and ports together constitute nearly half of the total pipeline value, underscoring the infrastructure intensive nature of the programme.
Annual phasing of the total monetisation value is structured as follows:
Table 2 NMP 2.0 Award Phasing of Total Monetisation Value FY 2026 to FY 2030 in INR Crore
Sl Sector FY26 FY27 FY28 FY29 FY30 Total
1 Highways MMLPs Ropeways 59,140 68,770 91,800 1,04,430 1,17,860 4,42,000
2 Railways 40,580 58,451 50,464 59,214 53,591 2,62,300
3 Power 49,900 54,450 62,700 54,725 54,725 2,76,500
4 Petroleum and natural gas 4,240 4,288 4,658 1,557 1,557 16,300
5 Civil aviation 0 9,083 5,537 4,034 8,846 27,500
6 Ports 40,854 55,729 55,729 55,729 55,659 2,63,700
7 Warehousing and storage 4,318 1,813 1,941 958 970 10,000
8 Urban infrastructure 0 5,000 5,000 21,000 21,000 52,000
9 Coal 31,540 48,170 47,580 45,230 43,480 2,16,000
10 Mines 18,101 18,986 19,963 20,940 22,010 1,00,000
11 Telecom 820 875 940 1,035 1,130 4,800
12 Tourism 0 820 0 0 380 1,200
Total 2,49,493 3,26,435 3,46,312 3,68,852 3,81,208 16,72,300
It is estimated that the largest portion of proceeds will accrue to the Consolidated Fund of India, followed by direct private investment, PSU or Port Authority allocations and State Consolidated Funds, particularly in coal and mining sectors where royalty payments apply.
Assets and transactions under NMP 2.0 are expected to be rolled out through public private partnership concessions, Infrastructure Investment Trusts and other capital market instruments. The choice of instrument will depend on sector characteristics, asset nature, market conditions and the level of operational control retained by the asset owner.
Officials clarified that monetisation values are indicative and subject to variation at the time of actual transaction.
With NMP 2.0, the Government has laid out a structured, medium term roadmap to unlock value from operational public infrastructure assets and channel resources into fresh capital expenditure, reinforcing infrastructure led growth under the Viksit Bharat vision.
