Government clears PSU-ETF plan

An empowered group of ministers on Friday approved a finance ministry proposal to launch an exchange-traded fund (ETF) for selling stakes in state-run companies. The ETF, which will be launched in a month, will help the government raise around Rs 3,000 crore by the close of the fiscal year in March, disinvestment secretary Ravi Mathur said. The government aims to raise Rs 40,000 crore from disinvestment in public sector units this fiscal.

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