a) Bharat 22 is aimed at helping speed up the government's disinvestment programme.
b) The Bharat 22 Index will be rebalanced quarterly.
c) Both a and b
d) Neither a nor b
Answer: Both a and b Explanation
• The Union Finance Minister Shri Arun Jaitley announced a new Exchange Traded Fund (ETF) by the name BHARAT 22.
• Bharat 22 consists of 22 stocks of CPSE's, PSB's & strategic holding of SUUTI .
• Compared to energy heavy CPSE ETF, Bharat 22 is a well diversified portfolio with 6 sectors (Basic Materials, Energy, Finance, FMCG, Industrials & Utilities).
• The Bharat 22 Index will be rebalanced annually. ICICI Prudential AMC will be the ETF Manager and Asia Index Private Limited (JV BSE and S& P Global) will be the Index Provider.
• In the Budget Speech of 2017-18, the Finance Minister Shri Arun Jaitley had promised to use ETF as a vehicle for further disinvestment of shares.
• The target for CPSE’s disinvestment in 2017-18 was set at INR 72,500 crore. During the current Financial Year 2017-18, the Government has realised approx INR 9,300 crore through nine disinvestment transactions so far.