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P. Chidambaram poses 20 tough questions on Rs 6 lakh Cr NMP

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P-Chidambaram

Senior Congress leader and former Union Finance Minister P. Chidambaram on Friday posed 20 questions on the Centre’s proposed National Monetization Pipeline (NMP) intended to ‘monetise’ certain assets and earn Rs 6,00,000 crore revenue over the next four years.

Stating that the government should answer the questions, he demanded to know the NMP objectives and whether it was solely intended to raise the revenues over the next four years.

Referring to the criteria adopted upfront to identify the PSUs that would be disinvested or privatised during the previous UPA government, Chidambaram queried whether the same is the case with the current NDA regime.

Pointing out that for infra projects like roads/highways, a PPP policy already exists, he asked what is the difference, if any, between this (PPP) model and the one that would be adopted by the Centre under the NMP, while addressing the media in the country’s commercial capital.

Moreover, if an asset is ‘monetised’ for 30-50 years, what is the value of the piece of paper that declares the government to be the ‘owner’ of that asset, what kind of asset will be returned to the government at the end of the period or would it be a “fully depreciated asset” worth practically nothing.

“Since the NMP is silent on the subject, will the government stipulate in the contract that the amount of depreciation should be put in a Depreciation Reserve Account which was used only to maintain, upgrade or add to the asset so that at the end of the lease period a valuable asset is returned to the government,” Chidambaram asked.

He also sought answers on whether there will be provision in the contract to prevent asset-stripping by the lessee, the terms included in the Invitation to Bid (ITB) to ensure that the ‘monetisation’ process does not create monopolies or duopolies in that sector, especially to prevent such (monopolies/duopolies) emerging in the ports, airports, telecom and power sectors.

The finance expert queried whether the lessee will manage the current levels of employment and the policy of reservations, or other policies, subject to sectoral regulators, etc., in the ‘monetised’ asset.

Harking to the UPA which identified the Railways as a ‘strategic sector’, he asked what are the other sectors the Centre has identified as ‘core’ or ‘strategic’ that would be kept out of the NMP purview.

“Has the government examined the impact of implementation of the NMP on the prices of goods and services in the sector/industry concerned? What will the government or the regulator do in case prices are increased by the lessee of the ‘monetized’ asset,” Chidambaram demanded.

Referring to the government’s revelation of the expected revenue of Rs 6,00,000 crore in four years, he asked whether the government would shed light on the total capital investment in the identified assets that are expected to yield the aforesaid revenue.

“The identified assets must be currently yielding a certain revenue every year. Has the government calculated the difference between the current revenue (undisclosed) and the expected revenue (of Rs 6,00,000 crore) over a period of four years? If so, what is the difference between the two amounts each year during the four year period,” Chidambaram asked.

On the government’s announcement that the NMP would be co-terminus with the National Infrastructure Pipeline (NIP) that is expected to require Rs 100 lakh crore, the ex-FM sought to know how the Rs 6,00,000 crore over a four year period be sufficient to finance a Rs 100 lakh crore NIP.

Furthermore, he sought an assurance from the Centre that the expected sum of Rs 6,00,000 crore “would not be merged with general revenues or used for general expenditure”.

Chidambaram further posed if the Rs 6,00,000 crore, when released, would not be diverted to partly-finance the fiscal deficit (Rs 5,50,000-crore in 2021-2022) or retiring old debts.

The Congress leader asked if the government floated a consultation paper on NMP, consulted various stakeholders including the workers or trade unions and demanded to know the outcome/minutes of these consultations.

He also asked whether the NMP was discussed in Parliament, and if not, whether the Centre plans to consult the Opposition Parties or debate in parliament.

Chidambaram said that the US is contemplating measures to contain monopolization and unfair trade practices of giants like Google, Amazon and Facebook, China has announced plans to rein in its giant tech firms and South Korea contained the influence of its huge family-controlled business conglomerates.

“Does the government intend to introduce similar measures while implementing the NMP,” Chidambaram asked, saying the Centre “is obliged to answer these questions”, and the media must demand replies from the government.

National News

Jaipur Polo Team enters Kota Cup final

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Jaipur, Nov 27: The second encounter of the Kota Cup, yet again, ended in a stylish victory for the Jaipur Polo team as they came out victorious by a scoreline of 10-6 against Chunda Polo to qualify for the final of the tournament.

The game saw impressive contributions from players across both teams, but Jaipur’s consistent scoring helped them secure the win. For the home team, it was again the attacking duo of Maharaja Sawai Padmanabh Singh of Jaipur and Lance Watson who bagged all the goals.

Padmanabh Singh did the bulk of the scoring with six goals to his name and Watson scored the rest to complete a stellar performance.

The match began with both teams showing their intensity, and it was none other than Padmanabh Singh of Jaipur who scored the opening goal to secure an early lead. Jaipur continued the momentum as they added two more goals quickly led by Lance Watson to end the chukker at 3-1.

The second chukker saw Chunda Polo trying to make a comeback as they scored two but the team Jaipur was relentless as they kept piling up the score with two more goals from Padmanabh Singh to end the second chukker with a lead of 5-3.

The third chukker was all about Jaipur as Padmanabh Singh added three more goals to his name and Lance Watson added one. Chunda Polo could get back one goal but it was too late already as the score stood at 9-4 in Jaipur’s favour at the end of the chukker.

The last chukker was more about being prudent rather than going for attacks. While Chunda Polo scored two goals, Jaipur scored the final and the 10th goal via Lance Watson to cap off a commanding win.

The final of the tournament will now be played on November 30 at the Rajasthan Polo Club, wherein Jaipur still awaits the challenger.

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Young innovators worldwide can find inspiration from confidence of India’s Gen Z: PM Modi

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New Delhi, Nov 27: Prime Minister Narendra Modi on Thursday lauded India’s Generation Z for their confidence and capacity building.

Speaking via video conferencing at the inauguration of the Infinity Campus of Indian space startup Skyroot and unveiling its first orbital rocket, Vikram-I, PM Modi praised the country’s Gen Z for their positive mindset and creativity.

“Our youth, our Gen Z, are developing solutions to challenges in every sector. Young innovators around the world can find inspiration from the confidence of India’s Gen Z,” PM Modi said.

“The capacity building, positive mindset, and creativity of India’s Gen Z can set a global benchmark for Gen Z across the world,” he said.

Emphasising that India’s youth always place national interest above all and make the best use of every opportunity, PM Modi remarked that when the government opened the space sector, the country’s youth, especially the Gen-Z generation, came forward to take full advantage of it.

He highlighted that today more than 300 space startups are giving new hope to India’s space future, and noted that most of these startups began with small teams — sometimes two people, sometimes five, sometimes in a small rented room — with limited resources but with determination to reach new heights.

“This spirit has given birth to the private space revolution in India,” said the Prime Minister. He noted that Gen-Z engineers, designers, coders, and scientists are creating new technologies, whether in propulsion systems, composite materials, rocket stages, or satellite platforms.

PM Modi stressed that India’s youth are working in areas that were unimaginable just a few years ago.

He remarked that India’s private space talent is establishing a distinct identity across the world and added that today, for global investors, India’s space sector is becoming an attractive destination.

The Prime Minister remarked that the changes being witnessed in the space sector are part of the broader startup revolution taking place in India.

“Over the past decade, a new wave of startups has emerged across diverse sectors such as fintech, agri tech, health tech, climate tech, edu tech, and defense tech, with India’s youth, particularly the Gen-Z generation, providing innovative solutions in every field,” PM Modi said.

PM Modi emphasised that “India has now become the world’s third-largest startup ecosystem”.

There was a time when startups were confined to a few big cities, but today they are emerging from small towns and villages as well, the Prime Minister said, underlining that the country now has more than 1.5 lakh registered startups, with many of them having achieved unicorn status.

“India is no longer confined to apps and services but is now advancing rapidly towards deep-tech, manufacturing, and hardware innovation,” said the Prime Minister, thanking Gen-Z.

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National News

India seeks peace but stands ready to defend its borders, says President Murmu

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New Delhi, Nov 27: President Droupadi Murmu on Thursday said India’s diplomacy, economic strength and armed forces collectively present a nation committed to peace while remaining fully prepared to defend its borders and citizens.

Praising the armed forces for their “professionalism and patriotism”, she said the recent success of Operation Sindoor represents a pivotal moment in India’s counter-terrorism and deterrence strategy.

Addressing the Chanakya Defence Dialogue 2025 at the Manekshaw Centre in New Delhi, the President said, “The Indian armed forces have exemplified professionalism and patriotism in guarding the sovereignty of India. During every security challenge, be it conventional, counter-insurgency or humanitarian, our forces have displayed remarkable adaptivity.”

“The recent success of ‘Operation Sindoor’ marks a defining moment in our counter-terrorism and deterrence strategy. The world took note of not only India’s military capability but of its moral clarity to act firmly yet responsibly in the pursuit of peace,” she added.

The President said that she was pleased that, beyond their operational role, the defence forces continue to serve as a “major pillar of national development”, contributing significantly to infrastructure, education and other initiatives in border regions.

Emphasising fast-changing geopolitical dynamics, President Murmu said, “The international system is being rewritten by contesting power centres, technological disruptions and shifting alliances. New domains of competition, cyberspace information and cognitive warfare are blurring the lines between peace and conflicts.”

Highlighting India’s approach to global affairs, she said, “Guided by our civilised ethos of ‘Vasudhaiva Kutumbakam’, we have shown that strategic autonomy can co-exist with global responsibility. Our diplomacy, economy and armed forces together project an India that seeks peace but is prepared to protect its border and its citizens with strength and conviction.”

The President expressed confidence that the dialogue’s outcome would offer valuable insights for policymakers as they shape the nation’s future course. She concluded by saying she was certain the armed forces would continue to strive for excellence and advance with determination towards achieving the goal of ‘Viksit Bharat@2047’.

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