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Bharat 22, CPSE ETFs outperforming stock exchanges: Official
New Delhi, Feb 5 (IANS) The Bharat A22 and Central Public Sector Enterprises (CPSE) Exchange Traded Funds (ETFs), launched over the last two years as part of the government’s disinvestment programme, are performing better than the Indian stock exchanges owing to the Centre’s clear cut policy favouring investors, a top official said on Monday.
At a post-budget interaction here organised by industry chamber Ficci, Investment and Public Asset Management Secretary Neeraj Kumar Gupta said the government’s stalled divestment programme had now taken shape and a number of state-run enterprises were in the pipeline for privatisation.
Presenting the Union Budget 2018-19 in Parliament last week, Finance Minister Arun Jaitley announced that the proceeds from selling government stock in companies this year, at Rs 1 lakh crore, had already exceeded the fiscal’s target of Rs 72,500 crore. He has set a disinvestment target of Rs 80,000 crore for the coming financial year.
“The CPSE ETF and the Bharat 22 ETF are outperforming the Sensex (Bombay Stock Exchange) and Nifty (National Stock Exchange),” Gupta said.
“This is because, the CPSEs are treating their investors much better than their private counterparts,” he said.
Designed to bring broad-based ownership pattern to public sector enterprises, the Bharat 22 ETF comprises 22 companies, or investments, from among CPSEs and public sector banks (PSBs). The ETF is well diversified with investments across six core sectors, including industrials, finance, utilities, energy, fast moving consumer goods and basic materials.
An ETF is a traded security that tracks an underlying asset like a group of companies or commodity. The government had earlier approved the alternative mechanism through the ETF route to divest its stake in CPSEs. It had raised Rs 8,500 crore through the CPSE ETF route in the last fiscal.
The alternate mechanism will be used to take decisions for divestment through ETF for all listed CPSEs, subject to the government retaining a 51 per cent stake in them.
Declaring that it was no longer “market distorting” to divest government holdings because the Indian private sector had become competitive, Gupta, however, said that, unlike the government, the latter did not have a clear policy on dividends.
“The government’s disinvestment programme has finally come on track after 12 years. DIPAM (Department of Investment and Public Asset Management) came out with a clear cut policy on the expectations of the investor,” he said.
He also said the the process of strategic disinvestment, whereby the government surrenders ownership of the company, is also proceeding apace, including the privatisation of Air India.
“We have already done eight (companies) and expressions of interest have come in from 7 companies,” he added.
–IANS
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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.
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