The Government has created a ‘National Investment Fund’ in 2005
The funds from the disinvestment of Central Public Sector Enterprises are added to NIF.
This was done to uphold the principle that the funds from disinvestment should go back to investment and not to fill fiscal deficit.
Earlier NIF was under the Department of Disinvestment under Union Finance Ministry which was renamed as Department of Investment and Public Asset Management (DIPAM).
Now, the government has transferred the role of DIPAM to Department of Economic Affairs.
It is now responsible for advising the government on quantum of disinvestment in CPSE and utilization of those funds, if Government retains 51% equity and management control.
MoUonMSMECooperationwithIORA:
The Indian Ocean Rim association (IORA) is an international organization to promote sustainable development and economic cooperation and liberalization among the member countries bordering the Indian Ocean.
Its headquarters is in Mauritius.
A MoU on MSME cooperation is now finalized with IORA and GOI.
IORA special fund was created to carry out the activities under the MoU.
The focus areas of MoU are,
Finalizing linkages among various MSME organizations and associations in their respective countries.
Exchange best practices and greater involvement of MSME in the global supply chain.
Promote access to finance innovation and explore trade and investment opportunities and participate in trade fairs.
NizamuddinAuliya:
The 713th death anniversary of Sufi saint Nizamuddin Auliya was was recently observed by reciting qawwals in the Nizamuddin dargah.
Nizamuddin Auliya is a sufi saint belonging to the Chisti order.
Nizamuddin Auliya’s predecessors were Qutbuddin Bakhthiyar Kaki, Khwaja Moinuddin Chisti. His notable disciple was Amir khusrow.
Qawwali is the form of sufi devotional music popular in South Asia and ghazal is a form of Qawwali.
Chisti Order:
The Chisti order is a Sunni Sufi order within the Sufi tradition of Islam. The order believed in drawing close to God through renunciation of the world and service to humanity.
This order is primarily followed in Afghanistan and Indian Subcontinent.
The Chisti order is the first of the four main Sufi orders – Chisti, Qadiriyya, Suhrawardiyya and Naqshbandi order.
