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 fund will trade government shares in four state-run energy companies - ONGC Ltd., BPCL, IOC and Coal India. (IOC), GAIL (India), Oil India, Power Finance Corp.
With the launch of this ETF, the government hopes to accelerate the divestment process.
The stocks to be sold through the ETF include those of Oil and Natural Gas Corp Ltd, Indian Oil Corp Ltd, Bharat Petroleum Corp Ltd, Coal India Ltd, State Bank of India, Larsen & Toubro Ltd and NTPC Ltd among others.
Bharat 22 will have 15.2 per cent of SUUTI's holdings. (REC), Engineers India Ltd and Container Corporation of India. The shares shares of ITC Ltd. and National Aluminium Co will also be through the ETF, he said.
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The ruling said that at a retrial Slatten would be able to introduce evidence alleging he did not fire the first shots. The court ordered the three men to be resentenced, a ruling that could significantly reduce their prison terms.
90% of the equities included are traded in futures and ICICI Prudential is the fund manager.During the current Financial Year 2017-18, the government has realised approximately Rs 9,300 crore through nine disinvestment transactions so far, a government release said.
"The last CPSE index was largely energy centric".
"We have kept in mind sectoral reforms in each of these sectors which have had a direct positive impact on the valuations of these shares".
"In the first round, the RBI had referred 12 cases to the banks to be taken up for insolvency proceedings". ETF assets have shown significant increase globally, he added.
"This is precisely why to keep the fixed deposits at the rate at which it was, because those are not rates which have been touched, those are the rates which affect retired and pensioners the most", the Finance Minister said.
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