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:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer:
D
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Explanation:
Statement 1 is incorrect. NIIF is not an organ of NITI Aayog. It is a fund created by the Government of India as an investment vehicle for funding infrastructure projects in the country.
Statement 2 is incorrect. The corpus of NIIF is not Rs 4,00,000 crore. The initial authorized capital of NIIF was set at Rs 40,000 crore, with the government contributing 49% of the corpus. However, the actual corpus may vary as it depends on the contributions from various investors.