Which one of the following statements is not correct?

Which one of the following statements is not correct?

Creation of National Investment and Infrastructure Fund (NIIF) was announced in the Union Budget, 2015-16.

NIIF is a fund for enhancing infrastructure facility in the country.

NIIF and NIF (National Investment Fund) are the names of the same organization.

NIIF can have more than one alternative investment fund.

Answer is Right!

Answer is Wrong!

This question was previously asked in

UPSC CDS-2 – 2016

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The correct answer is C, as NIIF and NIF are different entities.

National Investment and Infrastructure Fund (NIIF) was announced in the Union Budget 2015-16 as a fund to attract investment into the country’s infrastructure sector. National Investment Fund (NIF) was created in 2005 with the proceeds from disinvestment of central public sector enterprises. These two funds serve different purposes and are distinct entities.

NIIF is registered as an Alternative Investment Fund (AIF) under SEBI regulations. It manages various funds (like the Master Fund, Fund of Funds, Strategic Opportunities Fund) which can attract different types of investors and focus on various infrastructure sub-sectors. The NIF was primarily used for investment in social sector schemes and capital expenditure requirements of profitable PSUs.

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