Q55 · UPSC Prelims 2017 · Set A · Current Affairs and GK

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With reference to 'National Investment and Infrastructure Fund', which of the following statements is/are correct?1.It is an organ of NITI Aayog.2.It has a corpus of Rs. 4,00,000 crore at present.Select the correct answer using the code given below:

A 1 only
B 2 only
C Both 1 and 2
D Neither 1 nor 2

Correct answer: (d) Neither 1 nor 2

Explanation

  1. 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.

  2. 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.

  3. 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.

  4. 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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