81. Consider the following statements with reference to the National Investment Fund.
1. The assets in the National Investment Fund are managed by the Union Ministry of Finance.
2. The National Investment Fund is to be maintained within the Consolidated Fund of India.
3. Certain Asset Management Companies are appointed as the fund managers.
4. A certain proportion of annual income is used for financing select social sectors.
Which of the above statement(s) is/are correct?

Only 1 and 2

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Only 2 and 3

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Only 3 and 4

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Only 1 and 4

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Solution

The correct option is C Only 3 and 4
National Investment Fund is managed outside Consolidated Fund of India and is handled by selected public sector mutual funds for providing sustainable return without reducing amount. Asset Management Companies such as UTI Asset Management Company Pvt. Ltd., SBI Funds Management Pvt. Ltd. and LIC Mutual Fund Asset Management Company Ltd. etc. have appointed as fund managers for National Investment Fund. Around 75% of annual income of National Investment Fund is utilized to finance social sector schemes.

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