New Delhi, Feb. 25 -- The monetization of state-owned assets is a good idea in principle. It could trigger fresh capital formation that accelerates economic growth if implemented right. This week, the government announced the second phase of its National Monetisation Pipeline (NMP), having garnered 90% of the Rs.6 trillion targeted under the first.

The target for NMP 2.0 is Rs.16.72 trillion-over the next five years, if one goes by the official press release, or longer if one looks up the Niti Aayog report that it references. Estimate precision is not at a premium; the press release ends with the following caveat: "The monetisation potential values assessed under NMP 2.0 are indicative and are subject to variation at the time of the actu...