With reference to the National Invest- ment Fund to which the disinvestment proceeds are routed, consider the following statements : 1. The assets in the National Invest- ment Fund are managed by the Union Ministry of Finance. 2. The National Investment Fund is to be maintained within the Consoli- dated Fund of India. 3. Certain Asset Management Com- panies are appointed as the fund managers. 4. A certain proportion of annual income is used for financing select social sectors. Which of the statements given above is/are correct?

1. The question asks about the National Investment Fund (NIF) to which disinvestment proceeds were routed (as per the policy existing around 2010). 2. Statement 1: Claims the assets in the NIF are managed by the Union Ministry of Finance. While the Ministry oversees the policy, the actual day-to-day management of the fund's corpus was entrusted to professional fund managers. This statement is incorrect. 3. Statement 2: Claims the NIF is to be maintained within the Consolidated Fund of India (CFI). The NIF was established outside the CFI, in the Public Account of India, to keep its corpus distinct and manage its income stream separately for specific purposes. This statement is incorrect. 4. Statement 3: Claims Certain Asset Management Companies are appointed as the fund managers. The NIF corpus was professionally managed by selected Public Sector Mutual Funds (like UTI Asset Management, SBI Funds Management, LIC Mutual Fund Asset Management) to generate returns. This statement is correct. 5. Statement 4: Claims a certain proportion of annual income is used for financing select social sectors. The NIF policy stipulated that 75% of the annual income generated from the fund would be used to finance selected social sector schemes promoting education, health, and employment, while 25% would be used to meet capital investment requirements of profitable and revivable Public Sector Enterprises. This statement is correct. 6. Since statements 3 and 4 are correct, the answer is (C).