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National Investment Fund (NIF)

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The cabinet Committee on Economic Affairs (CCEA) on 27th January, 2005 had approved the constitution of a National Investment Fund (NIF). The Purpose of the fund was to receive disinvestment proceeds of central public sector enterprises and to invest the same to generate earnings without depleting the corpus. The earnings of the Fund were to be used for selected Central social welfare Schemes. This fund was kept outside the consolidated fund of India.

The fund became operational in 2005 by way of issue of Resolution No. 2/3/2005-DD.II dated 23rd November, 2005 published in the Gazette of India.

In 2013, CCEA in its meeting held on 17 January, 2013 and 21 February, 2013 restructured the NIF and decided to do away with the management of the disinvestment proceeds by the Fund Managers of NIF. It was decided by CCEA that the entire disinvestment proceeds from 01.04.2013 will be credited to the existing ‘Public Account’ under the head NIF and they would remain there until withdrawn/invested for the approved purpose. The allocations out of the NIF will be decided in the annual Government Budget.

Details may be seen here.

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