Correct answer: (d) Neither 1 nor 2
Explanation
- A
1 only
Option (a) is 1 only. The National Investment and Infrastructure Fund is not an organ of NITI Aayog. It was set up as a government-backed fund under the Department of Economic Affairs, Ministry of Finance. Statement 1 is false, so this option is not the key.
- B
2 only
Option (b) is 2 only. The announced corpus at launch was of the order of Rs 40,000 crore, not Rs 4,00,000 crore. Statement 2 is therefore false. This option is not the key.
- C
Both 1 and 2
Option (c) is both 1 and 2. Both the NITI-Aayog claim and the inflated corpus figure are wrong. This option is therefore wrong.
- D
Neither 1 nor 2
Neither statement stands: NIIF is a Finance Ministry / DEA investment vehicle, not a NITI Aayog organ, and the corpus figure in statement 2 is ten times too large. That is why (d) is the official key.
Summary. Official key is (d) Neither 1 nor 2. NIIF was created to crowd in long-term infrastructure capital under the Finance Ministry, not as a NITI Aayog bureau. The 2015 design spoke of about Rs 40,000 crore, not four lakh crore. Both statements fail. Candidates should not confuse NIIF with NITI Aayog’s policy role.
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