The National monetization pipeline that hopes to monetize assets and rake in revenues worth Rs 6 lakh crores in the next four years has run into a political storm just days after its announcement. “These are not PM Modi’s or the BJP’s assets. These are national assets which belong to the country”, said West Bengal Chief Minister Mamata Bannerjee, the latest opposition leader to hit out at the scheme.

Earlier Congress leader Rahul Gandhi claimed that the privatization will create monopolies and reduce job opportunities. In a press conference in Mumbai, Finance Minister Nirmala Sitharaman hit out at these allegations saying the opposition is not doing its homework.

FM Sitharaman pointed out to investments in the Mumbai- Pune corridor and a project for the New Delhi Railway station in 2008 as examples of similar exercises carried out by Congress led governments in the past.

FM also hit out at Congress leader Rahul Gandhi a day after his press conference saying the Wayanad MP does not understand the meaning of monetization. On his part Rahul Gandhi had claimed they are not against privatization but did not allow private companies into strategic sectors. While the issue has become a political flash point, the bigger question remains whether there will be appetite for some of these investment proposals, will long term leases on government assets allow private companies to charge higher rates to consumers and will the process be transparent. As always, execution of this ambitious scheme will be key.