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

Question

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:

Accepted Answer

National Investment and Infrastructure Fund (NIIF) is a fund created by the Government of India for enhancing infrastructure financing in the country. Its creation was announced in the Union Budget 2015-16.The Governing Council of NIIF is an advisory body - chaired by the Finance Minister. It is not an organ of NITI Aayog. Hence, statement 1 is not correct.The proposed corpus of NIIF is Rs. 40,000 Crores (around USD 6 Billion). Hence, statement 2 is also not correct.