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SSC CGL 2023 PYQ — Question 31

SSC CGL - 20 July 2023 - Shift 4 • General Awareness • Q31

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In which union budget was India's first sovereign wealth fund named 'National Investment and Infrastructure Fund (NIIF)' announced?

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Correct answer: A

Explanation

The correct answer is option 1 i.e. 2015-16.

  1. India's first sovereign wealth fund, the National Investment and Infrastructure Fund (NIIF), was introduced in the Union Budget for 2015–16. Its main objective is to increase infrastructure development by utilizing both foreign and domestic investment. To finance infrastructure projects, NIIF manages capital from a variety of sources, including the government, institutional investors, and private parties.
  2. The Master Fund, Fund of Funds, and Strategic Opportunities Fund are the three funds that it uses to do its business. Together, these investments support industries including energy, urban infrastructure, and transportation.
  3. To improve India's infrastructure and economic growth, NIIF is essential in facilitating large-scale investments.