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 :
- (a) 1 only
- (b) 2 only
- (c) Both 1 and 2
- (d) Neither 1 nor 2 ✓ UPSC's answer
Why the answer is (d)
• The NIIF (2015) is India's sovereign-backed infrastructure investment fund set up as a company/trust under the Ministry of Finance, with the Government holding 49% and the rest from foreign and domestic institutional investors — it is not an organ of NITI Aayog, so statement 1 is wrong.
• Statement 2 is wrong: its proposed corpus was ₹40,000 crore (about USD 6 billion), not ₹4,00,000 crore.
• It invests through Master Fund, Fund of Funds and Strategic Fund.
• Hence neither 1 nor 2, option (d).
Why the other options are wrong
- (a) 1 only
- Statement 1 is wrong: NIIF is under the Finance Ministry, not NITI Aayog.
- (b) 2 only
- Statement 2 is wrong: the corpus is ₹40,000 crore.
- (c) Both 1 and 2
- Both statements are wrong.
Asked in the GS Paper I of the UPSC Civil Services Preliminary Examination 2017, held on 18 June 2017. Question and answer key: Union Public Service Commission. Explanation: UPSC Answer Check.