With a view to maximizing economic impact mainly through infrastructure development in commercially viable projects, both greenfield and brownfield, including stalled projects, Government has approved the creation of National Investment and Infrastructure Fund (NIIF) which aims to attract investment from both domestic and international sources. 

A contributory and determinate investment trust called National Investment and Infrastructure Fund (the “Fund” or the “Trust”) under the provisions of the Indian Trusts Act, 1882 has been registered. Secretary, Department of Economic Affairs, Ministry of Finance, is the Settlor of the Trust.  

To oversee the activities of the NIIF, it has been decided to constitute a Governing Council with the following composition:-

 

(i)           Finance Minister                                   -          Chairman

(ii)         Secretary, DEA                                     -          Member

(iii)       Secretary, Financial Services                -          Member

(iv)       Ms Arundhati Bhattacharya                  -          Member

(v)         Shri Hemendra Kothari                         -          Member

(vi)       Shri T.V. Mohandas Pai                         -          Member

The mandate of the Governing Council includes the approval of the following matters:

a.   Guidelines for Investment of Trust property/Corpus of NIIF;

b.  Parameters for appointment and performance of investment managers/ advisors;

c.   Any other matter related or incidental thereto.

National Investment and Infrastructure Fund governance established with a Minister led Governing Council to approve investment and manager parameters. Creation of a contributory, determinate investment trust, the National Investment and Infrastructure Fund, to attract domestic and international capital for commercially viable infrastructure projects, with the relevant Ministry Secretary as Settlor. A Minister led Governing Council is constituted to oversee the Fund and to approve guidelines for investment of the Fund corpus, parameters for appointment and performance of investment managers and advisors, and related or incidental matters.