FinMin will get higher: Department of Public Enterprises now a part of Finance Ministry

By: PTI | New Delhi |

As much as this level: July 8, 2021 12: 56: 34 am

finance ministry, finminA man is cleaning the name plate of Finance Ministry out of doors the North block on Thursday. (Pronounce Photo by Renuka Puri. 24.01.2019)

The authorities has merged the Department of Public Enterprises (DPE) with the Finance Ministry to provide it the next agree with watch over over key snarl-owned corporations, evaluation their capital expenditure plans and chalk out measures relating to to revival to boot to closure of CPSEs. The finance ministry will now agree with six departments, with five other departments being Financial Affairs, Income, Expenditure, Funding and Public Asset Management and Monetary Products and services.

Ministry of Heavy Industries and Public Enterprises, the parent ministry of DPE, will now be known as the Ministry of Heavy Industries.

The pass comes sooner than the plenty of privatisation roadmap being pursued by the authorities, including strategic sale of Bharat Petroleum Corporation Ltd (BPCL), Transport Corporation, Container Corporation, Neelachal Ispat Nigam Ltd, Pawan Hans, Air India, that are anticipated to be executed in 2021-22. Key authorities corporations treasure BPCL, ONGC, IOC, HPCL, Vitality Grid Corporation, Coal India, among others, will now arrive below dispute agree with watch over of Finance Ministry.


Sight on strategic sale

The pass comes sooner than the plenty of privatisation roadmap being pursued by the authorities, including strategic sale of BPCL, Transport Corporation, Container Corporation, among others.

As a part of the divestment scheme for the monetary sector, the authorities has made up our minds to open an preliminary public offering (IPO) of Life Insurance protection Corporation of India (LIC) and residual stake sale in IDBI Monetary institution for the length of the monetary year beginning April. Privatisation of two public sector banks and one insurance protection company will be on the playing cards.

The rejig came sooner than the Cabinet expansion on Wednesday. DPE’s recent capabilities consists of, among others, evaluation of capital projects and expenditure in CPSEs and measures geared in direction of bettering their performance and capacity building.

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