With reference to the National Investment Fund to which the disinvestment proceeds are routed, consider the following statements:
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 statements given above is/are correct?
Explanation
The correct statements about the National Investment Fund are:
1. The assets in the National Investment Fund are managed by the designated Asset Management Companies (AMCs), which are appointed by the Union Government.
2. The National Investment Fund is maintained outside the Consolidated Fund of India and is operated by a designated government department.
3. Statement 3 is correct.
4. Statement 4 is incorrect. The income earned from the National Investment Fund is to be used to finance select social sector schemes as specified by the Union Government, but there is no specific proportion specified for this purpose.
Therefore, the correct answer is option 3 and 4.