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Our Bureau

New Delhi , May 14

THE Government has decided that from April 1, realisation from disinvestments of public sector enterprises (PSEs) would be appropriated from the Consolidated Fund of India for the creation of the National Investment Fund (NIF).

The NIF would be professionally managed by selected public sector financial entities with the requisite experience to provide sustainable returns to the Government without affecting the corpus, said Mr S.S. Palanimanickam, Minister of State for Finance, in a written reply in the Lok Sabha.

The annual returns from the NIF will be market-determined.

However, he added, the returns are expected to be good.

The entities managing the NIF would implement the investment strategy for the fund.

The income from the NIF would be credited to the Consolidated Fund of India and would thereafter be appropriated to finance selected social sector schemes promoting education and healthcare and for capital investment in selected profitable and revivable PSEs that yield adequate returns, in order to enlarge their capital base.

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