The Government of India constituted the National Investment Fund NIF on 3rd November 2005 into which...........

Economic Affairs Public Sector Enterprises

The Government of India constituted the National Investment Fund (NIF) on 3rd November, 2005, into which the proceeds from disinvestment of Central Public Sector Enterprises were to be channelized. Consider the following statements in this context:

1. National Investment Fund is to be maintained within the Consolidated Fund of India

2. The Fund will be professionally managed to provide sustainable returns to the Government

3. For F.Y. 2013-14 Government have approved allocations from the NIF towards spending on recapitalization of Public Sector banks and capital expenditure of Indian Railways.

Which of the statements mentioned above is/are correct?

Only 1

1 and 2

2 and 3

All of above

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Explanation:

1st statement is incorrect. National Investment Fund is a fund maintained outside the Consolidated Fund of India to transfer the shares of certain listedloss making central public sector enterprises (CPSEs) which were found to be non-compliant with the Rule that minimum 10% of the shares issued be held by the public (which means non-promoter entities) to be eligible to remain listed on stock exchanges of the country.