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:
- A. 1 only
- B. 2 only
- C. Both 1 and 2
- D. Neither 1 nor 2
Answer: D
Explanation
National Investment and Infrastructure Fund (NIIF) is a fund created by the Government of India for enhancing infrastructure financing in the country. Its creation was announced in the Union Budget 2015-16. Governing Council of NIIF is an advisory body – chaired by the Finance Minister. It is not an organ of NITI Aayog. Hence statement 1 is not correct. The proposed corpus of NIIF is Rs. 40,000 Crores (around USD 6 Billion). Hence statement 2 is also not correct.