Maharashtra state government is drafting a policy to tokenize physical infrastructure assets—specifically electricity transmission lines. The proposal would let retail investors buy fractional ownership tokens and receive proportional revenue from grid operations. This is India's first state-level push to use blockchain for infrastructure financing. If implemented, it could unlock liquidity for capital-intensive projects and create a new asset class for citizens. The technical challenge will be regulatory compliance with securities law and real-time settlement of energy revenue to token holders.