Earlier, a Search cum Selection Committee was constituted under the Chairmanship of Secretary, Department of Economic Affairs, Ministry of Finance for selection of the Chief Executive Officer (CEO) of NIIF Ltd. Mr Bose has been appointed as CEO following the conclusion of the selection process.
The Government has established the National Investment and Infrastructure Fund (NIIF) with the aim to attract investment from both domestic and international sources for infrastructure development in commercially viable projects. The National Investment and Infrastructure Fund (NIIF) Limited has been incorporated as a company under the Companies Act, 2013, duly authorized to act as investment manager of National Investment and Infrastructure Fund.
The establishment activities of the NIIF are underway and steps are being taken to operationalize the initiatives with different investors including RUSNANO, Abu Dhabi Investment Authority(ADIA) and Qatar Investment Authority(QIA).
NIIF initiatives would now be taken forward by the CEO and made further operational. An initial budgetary allocation of Rs. 4000 crores has also been made in the budget 2016-17. Further allocation would be made as and when necessary.