CURRENT AFFAIRS

Detailed explanation-1: -The Indian government created NIIF in late 2015 with a clear mandate: maximize economic impact through developing commercially viable projects, both greenfield and brownfield.

Detailed explanation-2: -It was proposed to be established as an Alternative Investment Fund to provide long tenor capital for infrastructure projects with an inflow of ₹20,000 crore from the Government of India. NIIF was approved in August 2015 by the Department of Economic Affairs.

Detailed explanation-3: -Is NIIF an organ of NITI Aayog? Ans. Yes, the National Investment and Infrastructure Fund is an organ of NITI Aayog.

Detailed explanation-4: -Government Contribution The Cash-rich Central Public Sector Enterprises (PSUs) would contribute to the Fund, that would be over and above the Government’s 49% contribution. Similarly, the domestic pension and provident funds and the National Small Savings Fund would also provide funds to the NIIF.