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 ₹4,00,000 crore at present. Select the correct answer using the code given below:
- A1 only
- B2 only
- CBoth 1 and 2
- DNeither 1 nor 2Correct
Explanation
Statement 1 is incorrect. The National Investment and Infrastructure Fund (NIIF) is not an organ of NITI Aayog. It is a quasi-sovereign wealth fund established by the Government of India in 2015 to act as a catalyst for infrastructure financing in India. It is managed by NIIF Limited, which is a company. Statement 2 is incorrect. While the NIIF was initially conceived with a target corpus, its operational corpus and committed capital vary based on contributions from the government and institutional investors. The figure of ₹4,00,000 crore (4 lakh crore) is significantly higher than its initial and current operational corpus, which was initially envisioned around ₹40,000 crore.
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