Connect with us
Thursday,11-December-2025
Breaking News

National News

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

Published

on

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.

Crime

Police bust interstate mobile theft gang; 40 high-end phones stolen in Delhi concert recovered

Published

on

New Delhi, Dec 11: The Delhi Police Crime Branch has arrested four members of an interstate mobile phone theft gang and recovered 40 high-end smartphones, many of which had been stolen from a December 7 concert at IGI Stadium, officials said on Thursday.

A team from the Eastern Range-I of the Crime Branch, led by Inspector Ashish Sharma and supervised by ACP Sunil Srivastav, tracked the suspects for nearly 48 hours before intercepting them near Yamuna Vihar Metro Station on December 9.

The police said the accused kept shifting locations to evade surveillance, forcing the team to maintain continuous technical tracking.

The arrested men have been identified as Salman (35), Imran (28), Shahrukh (32) and Wasim (25), all residents of Ghaziabad.

Police recovered eight Apple iPhones — including iPhone 17 Pro Max and the iPhone 16 series along with seven premium Samsung models such as the Galaxy S24 Ultra and Fold 6.

The remaining phones belonged to OnePlus, Vivo, Oppo, Redmi, POCO and Motorola.

Several of the recovered devices have already been matched with FIRs registered at Prashant Vihar, Shahbad Dairy and IP Estate police stations.

According to officers, the gang targeted crowded public places such as concerts, metro stations, bus stops, bars, marketplaces and railway stations.

During interrogation, the alleged kingpin, Salman, confessed that they focused on events frequented by young people carrying expensive phones. Police said the group had been operating across Delhi-NCR for several months.

“The stolen phones were then swiftly shifted to Ghaziabad (Uttar Pradesh), where the gang had established contacts in the grey market. The high-end devices were sold at throwaway prices within hours of the theft, making recovery extremely difficult,” the police said in its press note.

“Salman admitted that the gang had been actively operating in Delhi-NCR for the past several months and had committed scores of such thefts, earning them lakhs of rupees with almost no risk of getting caught until the present arrest,” it added.

Police said the four have been booked under Sections 35(1)(E) and 106 of the Bharatiya Nagarik Suraksha Sanhita (BNSS).

“This operation underscores the Delhi Police Crime Branch’s commitment to curbing organised crime and apprehending hardened criminals. Efforts are ongoing to apprehend the accused’s associates and others, and to verify additional cases linked to the accused,” said DCP Vikram Singh.

Continue Reading

Maharashtra

ED, ATS Conduct Raids Across Maharashtra & Delhi Over Suspected Terror-Funding

Published

on

Mumbai: The Enforcement Directorate (ED) on Thursday carried out a coordinated search operation in Borivali village near Padgha in Thane district, with assistance from the Maharashtra Anti-Terrorism Squad (ATS), officials said.

The operation, which began in the early hours of Thursday, extended to multiple residential premises as ED officials probed suspected terror funding and related financial transactions. ATS personnel provided on-ground support to coordinate the ED searches.

According to ED officials, the searches were conducted at nearly 40 locations across Maharashtra including Padgha, Pune, and Malegaon as well as in Delhi. The searches are linked to suspected financial transactions associated with terror-related activities.

The ED had recently registered an ECIR linked to the NIA’s ISIS terror module case involving Saquib Nachan, as well as the Pune ISIS module case. While ATS is simultaneously investigating the same modules, it is assisting the ED by sharing intelligence, leads, and field updates, helping ensure that the ongoing search operations are thorough, coordinated, and synchronised.

Officials said the operation is ongoing, with teams continuing to probe the suspected financial networks connected to the terror modules.

Continue Reading

Business

IndiGo offers travel vouchers worth Rs 10,000 to severely impacted customers

Published

on

New Delhi, Dec 11: Limping back to normalcy, IndiGo on Thursday offered travel vouchers worth Rs 10,000 to customers who were severely impacted during the flight disruption earlier this month.

The airline “regrettably acknowledged” that several people travelling between December 3 and 5 were stranded for many hours at major airports nationwide. The crisis caused thousands of cancellations and delays, keeping passengers in long queues.

“We will offer travel vouchers worth Rs 10,000 to such severely impacted customers. These travel vouchers can be used for any future IndiGo journey for the next 12 months,” an IndiGo spokesperson said in a statement.

The compensation is in addition to the commitment under the existing government guidelines, as per which, IndiGo will provide compensation of Rs 5000 to Rs 10,000, depending on the block time of the flight, to those customers whose flights were cancelled within 24 hours of departure time.

IndiGo also noted that “all necessary refunds for cancelled flights have been initiated”, including bookings through a travel partner platform.

The airline said that it is “committed” to restoring a “safe, smooth, and reliable” experience.

Earlier in the day, IndiGo Chairman Vikram Singh Mehta said that the airline’s Board will bring in external technical experts to work with the management and identify the root causes behind last week’s massive flight disruptions.

He said the experts will help ensure that such large-scale operational failures never happen again.

Meanwhile, the company stated that all destinations in the airline’s network have been fully connected since December 8, and operations have stabilised since December 9.

On December 8, it flew more than 1,750 flights with just one same-day cancellation, and on December 9, it had over 1,800 flights and zero cancellations. Over 1,900 flights took off on December 10, while just two were cancelled on the same day.

On Thursday, IndiGo said it expects “to operate more than 1,950 flights with approximately 300,000 customers”.

Continue Reading
Advertisement
Advertisement

Trending