Topics Covered: Infrastructure.
National Investment and Infrastructure Fund (NIIF):
Context:
Union Cabinet recently gave its approval to the proposal for equity infusion by the Government of Rs. 6000 crores in NIIF Debt Platform – sponsored by the National Investment and Infrastructure Fund (NIIF).
- The proposal is part of the Aatmanirbhar Bharat 3.0 package announced earlier this month.
About NIIF:
The government had set up the ₹40,000 crore NIIF in 2015 as an investment vehicle for funding commercially viable greenfield, brownfield and stalled infrastructure projects.
It was setup as a Category-II Alternate Investment Fund.
- The Indian government is investing 49% and the rest of the corpus is to be raised from third-party investors such as sovereign wealth funds, insurance and pension funds, endowments, etc.
- NIIF’s mandate includes investing in areas such as energy, transportation, housing, water, waste management and other infrastructure-related sectors in India.
InstaLinks:
Prelims Link:
- What is NIIF?
- How is it administered?
- What is a Category-II Alternate Investment Fund?
- NIIF’s mandate.
Sources: the Hindu.
