Jaitley chairs first meeting of governing council of NIIF

Union Finance Minister Arun Jaitley on Tuesday chaired the first meeting of the governing council of the National Investment and Infrastructure Front (NIIF).

Addressing the media after the meeting, Jaitley said, "We had the first meeting of governing council of the National Investment and Infrastructure Front (NIIF), all the members attended the meeting."

"An important step which is now being taken is the appointment of CEO of fund for which position has been advertised both nationally and internationally. We hope selection process will be completed in next few weeks," he added.

The Finance Minister further added that there was discussion on possible projects that could be taken up for support because this NIIF fund is a major initiative of the government in supporting the infrastructure.

"The progresses with regard to the suggestions which have come from UAE, Singapore, UK & Russia in particularly were discussed. We'll be meeting again in March to review progress of participation of each one of these funds which are intending to either invest directly into fund or into other arms of fund which will be created for supporting various infrastructure projects," he said.