Question 66 from UPSC CSE 2017 - Current
Affairs

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:

IASCODEX · Accepted Answer

Correct Option: D. Neither 1 nor 2

Strategy: - Verify NIIF's institutional affiliation. It operates under the Ministry of Finance, not NITI Aayog, making Statement 1 incorrect.
- Verify NIIF's corpus size. It is around Rs. 40,000 crore, not Rs. 4 lakh crore, making Statement 2 incorrect.
- Since both statements are false, the correct choice is 'Neither 1 nor 2'.

Key Info: **About NIIF**

The National Investment and Infrastructure Fund (NIIF) was established in 2015 as a Category II Alternative Investment Fund registered with SEBI. It is anchored and supported by the Government of India and is managed under the Ministry of Finance to facilitate investment in commercially viable infrastructure projects. NIIF is not an organ or sub-body of NITI Aayog.

The fund's target corpus at inception was around Rs. 40,000 crore, with the Indian government contributing 49% and the remainder from domestic and global investors.

NIIF operates three main funds:
- **Master Fund:** For core infrastructure investments.
- **Fund of Funds:** For investing in other funds.
- **Strategic Opportunities Fund:** For growth investments.

The figure of Rs. 4,00,000 crore is an exaggeration and does not reflect reality. NITI Aayog functions as a policy think tank, not as an investment fund manager for infrastructure.

IASCODEX · Answer

Option A: 1 only

IASCODEX · Answer

Option B: 2 only

IASCODEX · Answer

Option C: Both 1 and 2

With reference to 'National Investment and Infrastructure Fund', which of the following statements is/are correct? It is an organ of NITI Aayog. It has a corpus of Rs. 4,00,000 crore at present. Select the correct answer using the code given below:

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

It is an organ of NITI Aayog.

It has a corpus of Rs. 4,00,000 crore at present.
Select the correct answer using the code given below: