Mumbai: Finance Minister Arun Jaitley on Friday announced a new Exchange Traded Fund under the name Bharat-22. Jaitley said that Bharat-22 will have Central Public Sector Enterprises, public sector banks and strategic holding SUUTI. The funds will cover six sectors, he added. The finance minister unveiled this new policy decision at a media briefing in new Delhi on Friday.
#WATCH: Union Minister Arun Jaitley addresses media in Delhi. https://t.co/ThtCdfVVuw
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Addressing the media, Jaitley said earlier there were five successful ETF launches the government. "So far we have realised Rs 9,300 crore from strategic sale or divestment of some of the public sector undertakings," he said.
The government has set a target of raising Rs 72,500 crore from disinvestment in the year 2017-18 which was announced in the the Union Budget 2017 speech by Jaitley himself.
The Cochin Shipyard IPO was highly successful and was subscribed over 76 times. "It has been one of the most successful IPOs in stock market history," he added. According to Jaitley, there are 4 trillion assets under management in the world at present.
