National Monetisation Pipeline (NMP)
Architecture and Evolution
The National Monetisation Pipeline is a framework for generating revenue from government-owned brownfield (existing) infrastructure assets by transferring their operation and use to private sector players for a defined period in exchange for upfront or periodic payments, while ownership remains with the government. NMP 1.0 was launched by the Finance Ministry in August 2021 with a four-year (FY2022-FY2025) target of ₹6 lakh crore across 12 sectors. NMP 2.0 (launched February 2026) scales this up significantly — a five-year (FY2026-FY2030) target of ₹16.72 lakh crore including both asset monetisation and PSU equity listings.
- NMP 1.0: Launched August 23, 2021; FY2022-FY2025 target: ₹6 lakh crore across 12 sectors.
- NMP 2.0: Launched February 2026; FY2026-FY2030 target: ₹16.72 lakh crore; covers 12 major sectors.
- NMP 2.0 includes: Private sector investments of ~₹5.8 lakh crore (asset monetisation pipeline) + PSU equity (IPOs/OFS) of ~₹1.79 lakh crore.
- Sectors in NMP 2.0: Highways, Railways, Power, Ports, Coal, Mines, Telecom, Petroleum & Natural Gas, Civil Aviation, Warehousing, Urban Infrastructure, Tourism.
- Nodal Ministry/Body: NITI Aayog developed the concept; Department of Investment and Public Asset Management (DIPAM) under Ministry of Finance handles disinvestment/IPO track.
- Monetisation instruments: TOT (Toll-Operate-Transfer), InvITs (Infrastructure Investment Trusts), REITs (Real Estate Investment Trusts), OFS (Offer for Sale), PPP concessions.
● Tracked since February 24, 2026 · last seen May 12, 2026 · updates as the daily brief publishes