National News
P. Chidambaram poses 20 tough questions on Rs 6 lakh Cr NMP
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.
Mumbai Press Exclusive News
Nigerian arrested with cocaine in Mumbai

Mumbai: Police has claimed to have arrested a Nigerian with cocaine in the limits of Maloney police station and 180 grams of cocaine have been seized from his possession. Police searched Manuchi Agwa alias Oliver Agwa, 27, during a patrol and recovered cocaine from his possession. Along with the cocaine, a total of Rs 72 lakhs has been seized from the possession of the Nigerian. The police have registered a case under the NDPS Act and started investigation.
Business
Rs 7,253 crore spent so far in 2025-26 on sprucing up railway stations in India: Vaishnaw

New Delhi, Dec 5: The government has spent Rs 7,253 crore so far (up to October), of the total budgetary allocation of Rs 12,118 crore for 2025–26, on the redevelopment of railway stations across the country under the Amrit Bharat Station Scheme, Railway Minister Ashwini Vaishnaw informed Parliament on Friday.
The minister stated in a written reply to a question in the Rajya Sabha that work is in progress at a good pace for the development of stations such as Tirupati, Yesvantpur, Rameswaram, and Safdarjung station in Delhi..
So far, 1,337 stations have been identified for development under this scheme since it was launched, of which 155 stations have been completed till now.
Vaishnaw said that the station development projects under the Amrit Bharat Station Scheme are primarily conceptualised with budgetary support. However, 15 stations have been identified to be explored for development under the Public Private Partnership (PPP) mode also and based on the experience gained from the same, further evolution of the scheme is envisaged.
He further stated that the ownership of stations and operations-related activity will be with the Indian Railways. However, for some identified major stations, specific activities or groups of activities may be entrusted to outside sources for specified tenures depending upon the type of activity, requirements of the station, demand, etc. The terms of the contract are decided on a case-by-case basis.
He said that the Amrit Bharat Station Scheme for the redevelopment of stations has been launched with a long-term approach.
The scheme involves the preparation of master plans and their implementation in phases to improve the stations. The master planning includes improvement of access to the station and circulating areas, integration of the station with both sides of the city, improvement of the station building and improvement of waiting halls, toilets, sitting arrangement, and water booths.
The redevelopment plans also include provision of wider foot over bridge or air concourse commensurate with passenger traffic, provision of lifts, escalators and ramps, improvement of platform surface and cover over platforms and provision of kiosks for local products through schemes like ‘One Station One Product’.
Besides, the construction of parking areas, multimodal integration, amenities for Divyangjans, better passenger information systems, provision of executive lounges, nominated spaces for business meetings and landscaping is being taken up, keeping in view the necessity at each station, Vaishnaw said.
The scheme also envisages sustainable and environment-friendly solutions, provision of ballastless tracks, etc., as per necessity, phasing and feasibility and creation of a city centre at the station in the long term, the minister added.
National News
Palghar Illegal Building Collapse: Civic Official Arrested For Failing To Act On Unsafe Structure

Palghar: In a major development nearly three months after the collapse of an illegal residential building that claimed 17 lives, Assistant Commissioner Gilson Gonsalves has been arrested for allegedly failing to take timely action against the dangerous structure.
According to police, Gonsalves, who headed Ward-C of the Vasai-Virar City Municipal Corporation (VVCMC), did not initiate mandatory action against the unauthorised and unsafe Ramabai Apartment, nor did he file a case under the MRTP Act within the stipulated period. His inaction, officials say, contributed to the scale of the tragedy.
The four-storey Ramabai Apartment, located in Vijay Nagar, Virar (East), collapsed on 26 August 2025 during the Ganesh festival, triggering shock and panic across the city. The incident killed 17 residents and left nine others injured. The building, which contained 50 flats, had deteriorated severely in just a few years.
Investigators revealed that the developer had misled residents into believing the structure was authorised, leading them to continue paying municipal taxes. Following the collapse, police registered a case against builder Nital Sane, the landowner, and three others. Five individuals, including the builder, were arrested, although four have since been granted bail.
Police Commissioner Niket Kaushik had handed the investigation over to Crime Branch Unit-3, which continued to probe municipal lapses. During the inquiry, it emerged that despite the building being declared dangerous, Gonsalves did not ensure the evacuation of residents or pursue legal action against the developer.
As a result, Crime Branch officials registered a case against him and arrested him at around 1:30 a.m. on Thursday night. Although Gonsalves had applied for anticipatory bail in the Vasai court, his plea was rejected.
The arrest marks a significant step in the ongoing probe, as authorities face increasing pressure from residents and activists to hold both builders and civic officials accountable for the region’s growing number of unsafe and unauthorised structures.
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