| After stitching together the country's first sovereign fund - National Investment & Infrastructure Fund or NIIF - the government might find it difficult to get projects that are commercially viable. While explaining the fund and its functions to scribes, the minister of state for finance, Jayant Sinha, said that in the present scenario there is ample capital available worldwide. However, he admitted that there is a paucity of projects.
According to Sinha, the government is in touch with several pension funds across the world, endowments, and sovereign funds along with development banks to pick up 51 per cent equity in the fund and infuse Rs 20,000 crore-odd in it (the government will provide Rs 20,000 crore annually for a 49 per cent stake)...............................................Full Article: Source
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