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The process to invest provident fund monies into equity markets has begun. It will be done in five tranches this year and a total of Rs 6,000 crore will be invested by March 31, 2016.
"We will invest in tranches of one per cent each (of the total kitty with PF managers) in the next few months, " Union Minister of Labour Bandaru Dattatreya told Business Line here on Monday.
"Initially, we are planning to invest up to 5 per cent, " he said.
The government is targeting to invest 5-15 per cent of the PF reserves in the long term equities. "It will give more than returns. It can give up to 10 per cent as against the 8.75 per cent we are giving to the PF account holders, " he said.
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