₹16.72 lakh crore target: Govt scales up asset monetisation under NMP 2.0 till FY30

The government has drawn up an ambitious five-year roadmap under the National Monetisation Pipeline 2.0 (NMP 2.0), targeting ₹16.72 lakh crore through the monetisation of public assets across 12 key sectors between FY26 and FY30, according to the official release . 

Launched by Union Finance Minister Nirmala Sitharaman, the second phase of the asset monetisation programme builds on the first round and is positioned as a central pillar of infrastructure financing. The ₹16.72 lakh crore aggregate pipeline includes an estimated ₹5.8 lakh crore in private sector investment. 

The monetisation drive spans highways (including multi-modal logistics parks and ropeways), railways, power, petroleum and natural gas, civil aviation, ports, warehousing and storage, urban infrastructure, coal, mines, telecom and tourism. 

Highways to lead the charge 

Highways, including MMLPs and ropeways, account for the largest share at ₹4.42 lakh crore, or 26% of the total pipeline value. Power follows with ₹2.76 lakh crore (17%), while railways and ports are close behind at ₹2.62 lakh crore (16%) and ₹2.63 lakh crore (16%), respectively. 

Coal assets are expected to contribute ₹2.16 lakh crore (13%), and mines ₹1 lakh crore (6%). Urban infrastructure has a target of ₹52,000 crore (3%), while civil aviation is pegged at ₹27,500 crore (2%). Petroleum and natural gas assets are estimated at ₹16,300 crore (1%), warehousing and storage at ₹10,000 crore (1%), telecom at ₹4,800 crore (0.3%) and tourism at ₹1,200 crore (0.1%). 

Phased rollout over five years 

The annual award targets indicate a steady ramp-up. Total monetisation is projected at ₹2.49 lakh crore in FY26, rising to ₹3.26 lakh crore in FY27 and ₹3.46 lakh crore in FY28. The pace is expected to accelerate further to ₹3.68 lakh crore in FY29 and peak at ₹3.81 lakh crore in FY30. 

Highways alone are slated to rise from ₹59,140 crore in FY26 to ₹1.17 lakh crore in FY30. Railways and power also show strong annual allocations, reflecting their central role in the infrastructure push. 

Funding flow and instruments 

Proceeds from monetisation will be distributed across four heads depending on the implementing agency and structure of the transaction — the Consolidated Fund of India, allocations to PSUs or port authorities, State Consolidated Funds (particularly in coal and mining through royalty flows), and direct private sector investment. 

The assets are expected to be monetised through a mix of instruments, including public-private partnership concessions and capital market structures such as Infrastructure Investment Trusts (InvITs). The final values remain indicative and subject to variation at the time of transaction. 

With a pipeline valued at over 2.6 times the size of the first phase, NMP 2.0 marks a scaled-up push to recycle public assets and mobilise capital for fresh infrastructure investment over the next five years.