Q. Consider the following statements regarding National Investment Fund (NIF):
1.It was constituted in 2015.
2.The corpus of NIF is permanent in nature.
3.The disinvestment proceedings of public sector undertaking were channelized into NIF.
Choose the correct answer from below given codes:
Explanation: Government had constituted the National Investment Fund (NIF) in November, 2005 into which the proceeds from disinvestment of Central Public Sector Enterprises were to be channelized.
- The corpus of NIF was to be of a permanent nature and NIF was to be professionally managed to provide sustainable returns to the Government, without depleting the corpus.
- Selected Public Sector Mutual Funds, namely UTI Asset Management Company Ltd., SBI Funds Management Private Ltd. and LIC Mutual Fund Asset Management Company Ltd. were entrusted with the management of the NIF corpus.
- As per this Scheme, 75% of the annual income of the NIF was to be used for financing selected social sector schemes which promote education, health and employment.
- The residual 25% of the annual income of NIF was to be used to meet the capital investment requirements of profitable and revivable PSUs.