In his Independence Day speech of 2019, Prime Minister Narendra Modi announced the launch of the National Infrastructure Pipeline (NIP) — a comprehensive plan of infrastructure development. On December 31, 2020, the finance minister unveiled the detailed NIP Report setting out a capital expenditure plan of Rs 111 trillion for the next five years. In her latest Budget speech, the finance minister took an important step toward, filling in the gaps in a crucial component of the plan — namely, how to fund it.
To this end, she announced a National Monetisation Pipeline (NMP) to sell off, wholly or partially, current
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