India to unveil $80.4bln asset monetization plan

Privatization push by Sitharaman will be called the National Monetization Pipeline

  
India's Finance Minister Nirmala Sitharaman (C) and Krishnamurthy Subramanian (R), chief economic adviser, pose outside their office before the presentation of the federal budget on July 5, 2019. Image used for illustrative purpose.

India's Finance Minister Nirmala Sitharaman (C) and Krishnamurthy Subramanian (R), chief economic adviser, pose outside their office before the presentation of the federal budget on July 5, 2019. Image used for illustrative purpose.

REUTERS/Anushree Fadnavis

New Delhi – India’s Minister for Finance and Corporate Affairs, Nirmala Sitharaman, will unveil on Monday the government’s four-year plan to privatize its infrastructure assets worth Indian rupees 6 trillion ($ 80.4 billion).

These assets include state-owned enterprises in the aviation, power, oil and gas sectors in which investors in the Gulf are expected to show interest. In order to make asset monetization attractive to such foreign investors, the government has recently allowed 100 per cent foreign direct investment in specific industries.

Monday’s privatization push by Sitharaman will be called the National Monetization Pipeline (NMP). "It comprises a four-year pipeline of the government's brownfield infrastructure assets. Besides providing visibility to investors, the NMP will also serve as a medium-term roadmap for the asset monetization initiative of the government," an official announcement today said.

While the Minister will launch the Pipeline, a detailed book listing everything of investor interest will be released in the presence of Rajiv Kumar, Vice Chairman of NITI Aayog and Amitabh Kant, its CEO. NITI Aayog is the main policy think tank of the government of India.

The book has been compiled by CRISIL Infrastructure Advisory, an arm of the Credit Rating Information Services of India Limited (CRISIL), India’s oldest credit rating agency.

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