NMP 2.0 To Unlock Rs 10 Lakh Crore Over FY26–30, FY26 Asset Monetisation Target Pegged At Rs 1.9–2 Lakh Crore: Report

The Centre is preparing to launch Phase II of the National Monetisation Pipeline (NMP) with an ambitious asset monetisation target of Rs 1.9–2 lakh crore for FY26, according to report by Financial Express.

Building on the momentum of NMP 1.0, which covered FY22–25 and achieved Rs 5.65 lakh crore—94 per cent of the Rs 6 lakh crore target—the second phase (FY26–30) aims to plough back Rs 10 lakh crore of capital in new infrastructure projects.

Key contributors in FY26 are expected to be the National Highways Authority of India (NHAI), followed by the power, railways, and coal and mining sectors.

“Roads, railways and power will continue to be major players in asset recycling. Land development with private participation may be another big thing going forward,” an official familiar with the matter was quoted as saying by FE.

A consultant will soon be appointed to chart out sector-specific, year-wise monetisation strategies, including innovative project and financing models.

Niti Aayog is seeking the services of a firm for formulating a list of infrastructure assets and land parcels for monetisation by duly estimating the likely upfront or periodic revenue that can be realised from such monetisation or the investment by the private sector into such projects.

In FY25, NHAI raised Rs 28,724 crore via instruments such as infrastructure investment trusts (InvITs) and toll-operate-transfer (TOT) contracts.

The agency is expected to generate around Rs 30,000 crore in FY26 and may contribute Rs 3.5 lakh crore over five years, more than double the amount in NMP 1.0.

Asset classes under NMP 2.0 will span highways, railways, power, petroleum and natural gas, civil aviation, ports, warehousing, urban infrastructure, coal and mines, and telecom.

Infrastructure development on vacant public land is expected to emerge as a major new avenue for asset recycling.

While railways have lagged in the monetisation race, they are expected to accelerate with major station redevelopment projects nationwide in FY26.

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