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:

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Explanation

Both statements are incorrect

• The National Investment and Infrastructure Fund (NIIF), established in 2015, is India’s sovereign wealth fund aimed at attracting capital for infrastructure projects. It was set up as a sovereign wealth fund and is registered with the Securities and Exchange Board of India (SEBI) under SEBI Regulations, 2012, as a Category II Alternate Investment Fund (AIF). It is not an organ of NITI Aayog
• The Governing Council of NIIF is chaired by the Finance Minister. The proposed corpus of NIIF was Rs 40,000 Crores. The Centre had committed to investing Rs 20,000 crore in the fund, while the remaining was expected to come from private and global investors.

Answer: (d) Neither 1 nor 2; Difficulty Level: Hard