- The government is close enough to reach its disinvestment target of Rs 80,000 crore for the current fiscal year(2018-19).While,for the next fiscal (2019-2020),the government has set disinvestment target of Rs 90,000 crore.Disinvestment is defined as the action of an organisation (or government) selling or liquidating an asset or subsidiary.
- Earlier,Government got Rs 10,000 crore from Bharat-22 exchange-traded funds and another Rs 5,379 crore from the sale of Specified Undertaking of Unit Trust of India stake in Axis Bank Ltd.
- Bharat 22 is an ETF that will track the performance of 22 stocks of Central Public Sector Enterprises(CPSE’s),Public Sector Banks(PSB’s ) and strategic holding of SUUTI(Specified Undertaking of Unit Trust of India) which the government plans to disinvest.It is diversified across six sectors,such as(a)basic materials (b)energy (c)finance (d)FMCG (e)industrials and (f)utilities.
- Bharat-22 ETF is being managed by ICICI Prudential AMC while Asia Index is the index provider.
- Exchange Traded Funds (ETF) are index funds that are listed and traded on stock exchanges just like regular shares.They are a basket of stocks with assigned weights that reflect the composition of an index.
- The ETFs trading value is based on the net asset value of the underlying stocks that it represents.The ETF is aimed at helping speed up the government’s disinvestment programme.
