In India, which of the following statements is true about the National Investment Fund? Statements:

I. It was created in 2005.

II. 75\% of its annual income was to be used for schemes promoting health, education and employment.

III. It was dissolved in 2018.

Question

In India, which of the following statements is true about the National Investment Fund? Statements:

I. It was created in 2005.

II. 75\% of its annual income was to be used for schemes promoting health, education and employment.

III. It was dissolved in 2018.

Accepted Answer

**Solution:**

1. The National Investment Fund (NIF) was established in 2005 as a repository for proceeds from the disinvestment of Central Public Sector Enterprises (CPSEs).

2. Initially, 75\% of the annual income from the fund was allocated for schemes promoting health, education, and employment, while the remaining 25\% was for recapitalization of public sector banks and financial institutions.

3. In 2013, the government made the NIF a permanent fund with disinvestment proceeds directly credited to it.

4. The fund was not dissolved in 2018; hence, statement III is false.

**Answer:** Only statements I and II are true.

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