Consider the following statements with respect to National Investment and Infrastructure Fund NIIF 1...........

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Consider the following statements with respect to National Investment and Infrastructure Fund (NIIF)

1. It was established to provide long-term capital to India‘s infrastructure sector.

2. It is considered as India‘s quasi sovereign wealth fund.

Which of the statement(s) given above is/are correct?

1 only

2 only

Both 1 and 2

Neither 1 nor 2

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Explanation:

NIIF, short for National Investment and Infrastructure Fund, is an Indian-government backed entity established to provide long- term capital to the country?s infrastructure sector.

NIIF was set up as an alternative investment fund (AIF) in December 2016 with a planned corpus of Rs. 40,000 crore.

The Indian government has 49 per cent stake in NIIF with the rest held by marquee foreign and domestic investors such as Abu Dhabi Investment Authority, Temasek and HDFC Group.

With the Centre‘s significant stake, NIIF is considered India?s quasi sovereign wealth fund.