UPSC Exam > UPSC Notes > PIB (Press Information Bureau) Summary > PIB Summary- 19th November, 2022
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National Investment and Infrastructure Fund
Why in News?
Finance Minister has urged the National Investment and Infrastructure Fund (NIIF) to expand its operations and explore ways to crowd in private capital for projects under the National Infrastructure Pipeline, PM Gati Shakti and National Infrastructure Corridor.
What is NIIF?
- The National Investment and Infrastructure Fund (NIIF), which was established in February 2015, is India’s first sovereign wealth fund dedicated to investing in infrastructure.
- It was proposed to be established as an Alternative Investment Fund to provide long tenor capital for infrastructure projects with an inflow of 20,000 crore from the GoI, with the goal of maximising economic impact primarily through infrastructure investment in commercially viable projects, both Greenfield and Brownfield.
- It was listed with SEBI as an Alternative Investment Fund in Category II.
National Bioenergy Programme
Why in News?
Recently, Ministry of New and Renewable Energy organized seminar on “National Bio Energy Programme”.
Bioenergy
- Bioenergy is renewable energy made available from organic materials derived from biological sources.
- It is the energy derived from biomass such as bagasse, cotton stalk, coconut shell and wood, plants, etc. With global warming and growing concerns biomass can play a vital role especially in rural areas.
About National Bioenergy Programme
- The Indian Renewable Energy Development Agency (IREDA) will be the implementing agency for the programme.
- IREDA will be paid a service charge of 1% of CFA to process applications, besides 1% for the CFA (minimum ₹50,000) for implementing, and monitoring the performance once the plants are commissioned.
- It aims to produce biogas and bioCNG, and electricity from urban, industrial and agricultural waste and residues.
- The government will offer financial assistance to project developers and pay service charges to implementing agencies, including inspection firms for commissioning the waste-to-energy plants.
- It also comprises the biogas and biomass programmes.
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