Asset Monetisation
ToT and InvIT Models
Asset monetisation — recycling existing public infrastructure assets to raise fresh capital — is a core component of India's infrastructure financing strategy under the National Monetisation Pipeline (NMP).
- The National Monetisation Pipeline (NMP) was launched in August 2021, targeting Rs 6 lakh crore in asset monetisation over FY22-25 across highways, railways, power, pipelines, telecom, and airports.
- Toll-Operate-Transfer (ToT): NHAI bundles operational highway stretches with predictable toll revenues and auctions the right to collect tolls for a fixed concession period (typically 30 years) to private operators. The private operator pays NHAI an upfront lump sum.
- InvIT (Infrastructure Investment Trust): A SEBI-regulated trust structure that issues units to institutional investors and uses proceeds to acquire infrastructure assets. NHAI InvIT raised Rs 8,011 crore in its 2021 IPO.
- Asset monetisation is revenue-neutral for users — toll rates do not change — but provides the government with upfront capital without adding to fiscal deficit or government borrowing.
● Tracked since February 01, 2026 · last seen February 25, 2026 · updates as the daily brief publishes
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