BASICS EXPLANATION APART FROM PIB ANALYSIS.
PRESS INFORMATION BUREAU: In this lesson we learn about
16 OCTOBER 2017 ‘ s important news from the releases on Press Information Bureau (PIB).
WHAT IS NIIF National Investment and Infrastructure Fund (NIIF)
Union Agriculture and Farmers Welfare Minister, Shri Radha Mohan Singh said that in order to provide strategic development to the horticulture sector, so as to increase farmers income, a pioneer project called CHAMAN, has been launched three years back by the Government. This project is being implemented by Mahalanob is National Crop Forecast Centre (MNCFC) using remote sensing technology and is likely to be completed in March 2018. This was told by the Shri Singh in New Delhi today during a presentation on CHAMAN.
Shri Radha Mohan Singh said that the Horticulture sector is one of the major drivers of growth in Agriculture sector. This sector provides nutrient rich crops to the people and better remunerative prices to the farmers thereby augmenting their income. It also provides higher employment opportunities in the primary, secondary and tertiary sectors. Thus it has gained significant prominence in the recent years. It is a matter of pride that India is the Second largest producer of Vegetables and Fruits in the world and is First in the production of Banana, Mango, Lime and Lemon, Papaya and Okra.
Pursuant to the Memorandum of Understanding (MoU) between Department of Economic Affairs, Ministry of Finance, Government of India and the Government of United Arab Emirates (UAE) to mobilise long term investment into National Investment and Infrastructure Fund (NIIF), the first investment agreement between NIIF Master Fund and a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA) has been signed today. The investment from ADIA Group would be 1 billion USD.
As a part of the agreement, ADIA will become the first institutional investor in NIIF’s Master Fund and a shareholder in the NIIF’s investment management Company.
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PIB 16 OCTOBER 2017 ANALYSIS
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