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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.

International News

Gift to President Putin part of PM Modi bid to globally display India’s heritage

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New Delhi, Sep 12: Prime Minister Narendra Modi gifting President Vladimir Putin with a Russian translation of the Thirukkural on Friday is another example of his efforts at putting forward India’s heritage and culture before the rest of the world.

“This is not the first time PM Modi has taken our culture global!” said ‘Modi Story’, an initiative to bring forward the Prime Minister’s work and thoughts through the eyes of those who have caught a glimpse into his life.

The social media post on Saturday was in reference to him presenting President Putin with a Russian translation of the composition which carries the eternal wisdom of the great Thiruvalluvar across languages and borders.

The Russian President is in India to participate in the 18th BRICS Leaders’ Summit, now underway in New Delhi.

The composition is a timeless work on ethics, politics, and love, among those by the celebrated figure in Tamil literature and philosophy, who is also referred as Valluvar.

“Back at the 2019 Shanghai Cooperation Organisation (SCO) Summit, PM Modi spearheaded an initiative to translate 10 modern Indian works into Russian, Chinese, and English so regional literature could reach global audiences,” it added, quoting a statement from K. Sreenivasan, former Secretary of Sahitya Academy.

The 19th SCO Summit was then held in Bishkek, Kyrgyzstan, focusing on regional security, economic cooperation, and multilateral diplomacy.

“He (PM Modi) has created space for Indian culture, Indian literature, Indian languages, (where) though we’re creating excellent literary works, we’re not able to showcase it before the world,” Sreenivasan said in a video attached with the social media post.

“Then, in 2020, we contacted the External Affairs Ministry and the Ministry of Culture and then made a list of 10 books to be translated in the three languages,” he added.

It was in 2020-2021 when the Summit was held under India’s chairmanship — it was the time of the pandemic and the meeting had to be held virtually — that the books were released, he also said.

Prime Minister Modi then announced that the country had achieved what he had set out to do.

“I want to say this to tell how he is concerned about Indian literature, Indian languages even in the international platform,” Sreenivasan stressed.

The social media post reminded that earlier, during President Putin’s India visit in December 2025, Prime Minister Modi had gifted him a Russian edition of the Bhagavad Gita.

“PM Modi’s cultural diplomacy is a masterclass in putting Indian heritage front and centre on the world stage!” it added.

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Crime

Bengal man arrested for sexually assaulting minor daughter

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Kolkata, Sep 12: A man in West Bengal South 24 Parganas district has been arrested for sexually assaulting his 13-year-old daughter, police said on Saturday.

According to the police, the elder daughter had filed a complaint against her father with the Baruipar police. She claimed that she left home due to sexual assault, which she was subjected to by her father, and alleged that he was doing the same to her younger sister. Based on that complaint, officers of Baruipur Women Police Station have arrested the accused.

According to the police, the arrested person is a hawker by profession.

Allegedly, in December last year, the accused’s elder daughter was subjected to physical abuse. She left home in anger and fear. The younger daughter alleged that her father’s misbehaviour was not resolved even after she informed her mother. The mother kept quiet even after knowing everything.

It is alleged that after the elder daughter left home, the father continued to sexually assault the younger daughter. The ‘victim’ claimed that this had been happening for the past few months. She said that there was no situation to tell anyone. She spoke to her sister on the phone. After that, both sisters informed their mother. Even after that, the mother remained silent and refused to accept their allegations.

Incidentally, the accused’s elder daughter called 100 and informed the police about the matter. Based on that, officers of Baruipur Women Police Station arrested the accused from the Kulpi Road area last night. A case has been registered against the accused under the Protection of Children from Sexual Offences (POCSO) Act, 2012. Police have applied for his custody to investigate the matter further.

“Based on the complaint by the daughter, the father has been arrested. We will seek his custody to interrogate him further. Investigation is on, and all the allegations are being looked into,” a senior officer of Baruipur Police District said.

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International News

PM Modi’s warm camaraderie with Putin, Xi on full display at BRICS Summit

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New Delhi, Sep 12: Prime Minister Narendra Modi on Saturday shared moments of warm camaraderie with Russian President Vladimir Putin and Chinese President Xi Jinping, as the three leaders were seen holding hands and exchanging smiles during the BRICS Summit at Bharat Mandapam in New Delhi.

Sharing the sidelights on his X, PM Modi posted: “BRICS Summit 2026 gets underway in Delhi”.

The visuals and photographs echoed a similar display of camaraderie between PM Modi, Putin, and Xi during the 26th Shanghai Cooperation Organisation (SCO) Summit held in Bishkek last month, where the three leaders smiled and shook hands on August 31. The moment unfolded during the official family photograph, an established tradition at the annual SCO gathering.

The 2025 SCO Plus Summit in Tianjin on August 31-September 1 had also produced several notable visuals of the three leaders. PM Modi’s embrace with Putin, his walk alongside Xi and Putin, and his interactions with both leaders highlighted the personal bonhomie shared between the top leaders.

The latest visuals from New Delhi came after PM Modi welcomed BRICS leaders at Bharat Mandapam, the venue for the 18th BRICS Summit.

PM Modi warmly received President Putin, President Xi Jinping, Indonesian President Prabowo Subianto, South African President Cyril Ramaphosa, Egyptian President Abdel Fattah el-Sisi, Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and other leaders at the Bharat Mandapam ahead of the Summit.

India is hosting the 18th BRICS Summit at Bharat Mandapam in New Delhi on Saturday and Sunday (September 12-13), bringing together leaders from BRICS member and partner countries, along with outreach invitees.

India’s BRICS Chairship is guided by the theme: ‘Building for Resilience, Innovation, Cooperation and Sustainability’, reflecting Prime Minister Narendra Modi’s vision of a people-centric approach rooted in the spirit of ‘Humanity First’, according to the statement released by the Ministry of External Affairs (MEA).

In his welcome remarks at the opening BRICS session on ‘Inclusive Global Governance and Strengthening Multilateralism’ in New Delhi on Saturday, PM Modi extended a warm welcome to BRICS leaders and said that India’s BRICS chairship is based on a people-centric and humanity-first approach.

“Resilience, innovation, cooperation, and sustainability have been our priorities. Alongside these priorities, we have placed special emphasis on connecting BRICS cooperation with the common people. With this vision in mind, more than 350 meetings were organised. We had the opportunity to welcome your teams to approximately 30 cities,” highlighted PM Modi.

He emphasised that BRICS has established a distinct identity on the global stage and said that the bloc is not against anyone and must work to move forward with the approach of taking everyone along. He called for the establishment of a ‘BRICS Continuity and Implementation’ mechanism.

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