Consider the following statements 1 Indian Inclusive Innovation Fund IIIF was launche...........

Economic Affairs Planning in India

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Consider the following statements.

1. Indian Inclusive Innovation Fund (IIIF) was launched by the national innovation council (NInC)

2. IIIF will cater to top of pyramid of business cycle

3. IIIF will get funding exclusively from Ministry of Human Resource Development

4. Eco-system of fund will focus on change in societal issues

Which of the statements given above is/are correct?

1 and 2

1 and 4

2 and 3.

All are correct

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Explanation:

2nd and 3rd statements are incorrect.
The National Innovation Council (NIC), in partnership with the Ministry of Micro, Small and Medium Enterprises (MSME), launched the India Inclusive Innovation Fund (IIIF). IIIF is an impact investment fund that will invest in ventures catering to the country’s poor. It is an autonomous Rs. 500-crore fund, with the Union Government contributing 20 %. The balance will come from public sector banks, financial institutions, insurance companies, multilateral/bilateral development agencies, Indian & global corporates.