UPSC Prelims 2017 Question:

With reference to ‘National Investment and Infrastructure Fund’, which of the following statements is/are correct?

1. It is an organ of NITI Aayog. 
2. It has a corpus of Rs. 4,00,000 crore at present.
   
   

Select the correct answer using the code given below:

Explanation:

• The Government of India founded the National Investment and Infrastructure Fund (NIIF) in February 2015 as a sovereign wealth fund. Its creation was announced in the Union Budget of 2015-16 for enhancing infrastructure financing in India. Its governing council is chaired by the Union Minister of Finance. It is not an organ of NITI Aayog. So, statement 1 is not correct
• The NIIF is being operationalized by establishing three Alternative Investment Funds (AIFs) under the Securities and Exchange Board of India (SEBI) Regulations. The proposed corpus of NIIF is Rs. 40,000 Crores (around USD 6 Billion). The government of India’s contribution to the AIF under the NIIF scheme shall be 49% of the total commitment. NIIF has the mandate to solicit equity participation from strategic anchor partners, like overseas sovereign/quasi-sovereign/multilateral/bilateral investors. So, statement 2 is not correct.
  
  

Therefore, option (4) is the correct answer.

Subject: Economics | Economic Schemes and Policies