Congress slams FM Sitharaman's Monetisation Pipeline: 'India's assets not safe under BJP'

Finance Minister Nirmala Sitharaman on Monday, August 23, announced a Rs 6 lakh crore National Monetisation Pipeline (NMP) that will unlock value in infrastructure assets across sectors ranging from power to road and railways. However, the Congress party expressed its displeasure over Nirmala Sitharaman's NMP plan.

Despite FM Sitharaman's clarification that there will be no transfer in the ownership, Congress spokesperson Randeep Surjewala took to his Twitter handle and alleged that under the BJP, the country's assets will not be safe. 

"Sale of country's properties worth Rs 6 lakh crore -- roads, rail, mines, telecom, power, gas, airports, ports, sports stadium...Modi ji will sell everything from the earth to the sky. If there is BJP, then the assets of the country will not be saved," Surjewala said in a tweet in Hindi, using the hashtag "#StopSellingIndia".

What is National Monetisation Pipeline?

Finance Minister Nirmala Sitharaman on Monday unveiled the National Monetisation Pipeline (NMP) that included unlocking value by involving private companies across infrastructure sectors -- from passenger trains and railway stations to airports, roads, and stadiums.

As many as 25 Airports Authority of India (AAI) airports, including ones at Chennai, Bhopal, Varanasi, and Vadodara, as well as 40 railway stations, 15 railway stadiums and an unidentified number of railway colonies have been identified for getting private investments.

Stating that there is no transfer of ownership of land, she said, "The NMP talks about brownfield infra assets where investments have already been made, where there is a completed asset which is either languishing or which is remaining not fully monetised or which is remaining underutilised."

"So by bringing in private participation into this, you are going to be able to monetise it better, and with whatever resources you obtain through the monetisation, you will be able to put in further investment into infrastructure," FM Sitharaman said.

The total indicative value of NMP for core assets of the central government has been estimated at Rs 6 lakh crore over the four-year period FY22 to FY25. 

As per PTI, the Union Budget 2021-22 had identified monetisation of operating public infrastructure assets as a key means for sustainable infrastructure financing. Towards this, the Budget provided for preparation of a National Monetisation Pipeline of potential brownfield infrastructure assets. NITI Aayog in consultation with infra line ministries has prepared the report on NMP.

Image: PTI