| The investment division of the finance ministry has finally approved setting up of the National Investment and Infrastructure Fund (NIIF), initially proposed in the last Union Budget. The Fund is likely to be operational from the end of this year. Finance Minister Arun Jaitley in his recent visit to Singapore and Hong Kong pitched to the pension and wealth funds there to invest in the NIIF, touted to be India’s own version of a sovereign wealth fund (SWF).
The Fund will receive an initial allocation of INR20,000 crore as seed money, which, in turn, will be used to lend equity/quasi-equity/debt support to commercially viable green-field and brown-field infrastructure projects, including stalled ones...............................................Full Article: Source
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