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.
Option 1: Only statement I
Option 2: Only statement II
Option 3: Only statements I and III
Option 4: Only statements I and II
Correct Answer: Only statements I and II
Solution : The correct answer is Only statements I and II.
The National Investment Fund was created in 2005 by the Government of India. The fund is managed by the Department of Investment and Public Asset Management(DIPAM), Ministry of Finance. 75% of its annual income was to be used for schemes promoting health, education and employment.
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