National Monetisation Pipeline: How Realistic Is The Target: Systematix

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Earlier in 2020, the Indian government announced a mega spending plan of Rs 111 trillion over FY20-25 under its National Infrastructure Pipeline.

However, with the Covid-19 pandemic worsening the Centre and States’ already weak fiscal situation, the government is exploring alternative mechanisms to fund its infrastructure capex and announced plans to monetise assets worth Rs 6 trillion through the National Monetization Pipeline.

Our deep-dive analysis into the NMP suggests that the plans are over-ambitious and would help raise direct proceeds of only ~Rs 3.4 trillion for the government over FY22-25 even in the best-case scenario, which is less than 5% of the overall planned infrastructure capex over that period.

Click on the attachment to read the full report:

Systematix Engineering and Capital Goods – Sector update.pdf


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