Question
Which of the following statements is/are not correct
with reference to National Investment and Infrastructure Fund (NIIF)? I. It is an entity set up by the government to provide long-term financing for infrastructure projects in the country. II. The Foreign investors have a 100% stake in the fund. III. It was set up in December 2015 as a Category-II Alternate Investment Fund. Choose the correct answer using the codes given below:Solution
Statement I is correct -: NIIF is a government-backed entity established to provide long-term capital to the country’s infrastructure sector. Statement II is not correct -: The Indian government has a 49% stake in NIIF with the rest held by foreign and domestic investors. Statement III is correct -: It was set up in December 2015 as a Category-II Alternate Investment Fund.
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