The National Investment and Infrastructure Fund (NIIF) is not an organ of NITI Aayog, making statement 1 incorrect. The NIIF is a fund created by the Government of India for enhancing infrastructure financing in the country.
Statement 2 is also incorrect because the corpus of NIIF is not Rs. 4,00,000 crore. The NIIF was initially proposed to be of the size of Rs. 40,000 crore.
Hence, option 4 (Neither 1 nor 2) is the correct answer because both of the statements mentioned about the National Investment and Infrastructure Fund are inaccurate. The NIIF has a different purpose and corpus size than what is stated.