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National Investment and Infrastructure Fund (NIIF)

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:

  1. What is NIIF?
  2. How is it administered?
  3. What is a Category-II Alternate Investment Fund?
  4. NIIF’s mandate.

Sources: the Hindu.