Department of Public Enterprises has been merged with Finance Ministry

08 Jul 2021 CW Team

The Department of Public Enterprises (DPE) and the Ministry of Finance have merged to give the government better control over state-owned businesses and to help it with the privatisation programme.

DPE's parent ministry, the Ministry of Heavy Industries and Public Enterprises, will now be referred to as the Ministry of Heavy Industries, and the Finance Ministry will now have six departments.

Previously, the Atal Bihari Vajpayee government's disinvestment ministry was merged with the Finance Ministry and is now a department within it.

The Foreign Investment Promotion Board (FIPB) was abolished, and foreign investment administration was transferred to the Finance Ministry (FinMin).

The transfer of DPE to the Finance Ministry will aid in the effective monitoring of capital expenditure, asset monetisation, and the financial health of Central Public Sector Enterprises (CPSEs).

The reshuffle comes ahead of a Cabinet expansion later that day.

These rules will be known as the Government of India (Allocation of Business) Three Hundred and Sixty-First Amendment Rules, 2021, according to the gazette notification.

Economic Affairs, Revenue, Expenditure, Investment and Public Asset Management, and Financial Services are the five departments that make up the finance ministry.

With the addition, the finance ministry will have a total of six departments.

According to the notification, the DPE's responsibilities include coordinating general policy matters affecting all PSEs, evaluating and monitoring PSE performance, including the memorandum of understanding mechanism, and reviewing capital projects and expenditure in CPSEs.

In addition, the DPE outlines measures aimed at improving CPSE performance and other PSE capacity-building initiatives, as well as providing advice on PSE revival, restructuring, or closure, including the mechanisms, counselling, training, and rehabilitation of employees in CPSEs under the Voluntary Retirement Scheme, and categorising CPSEs, including conferring 'Ratna' status, among other things.

The ministry of heavy industries will remain the administrative ministry in charge of the capital goods sector. The Ministry of Heavy Industries will oversee 44 CPSEs, including Maruti Udyog Limited, BHEL, Cement Corporation, Scooters India, HMT, and other subsidiaries.

Image Source

Also read: Ministry of Finance announces key schemes to boost economy

Also read: India to become global economic powerhouse: Nirmala Sitharaman

The Department of Public Enterprises (DPE) and the Ministry of Finance have merged to give the government better control over state-owned businesses and to help it with the privatisation programme. DPE's parent ministry, the Ministry of Heavy Industries and Public Enterprises, will now be referred to as the Ministry of Heavy Industries, and the Finance Ministry will now have six departments. Previously, the Atal Bihari Vajpayee government's disinvestment ministry was merged with the Finance Ministry and is now a department within it. The Foreign Investment Promotion Board (FIPB) was abolished, and foreign investment administration was transferred to the Finance Ministry (FinMin). The transfer of DPE to the Finance Ministry will aid in the effective monitoring of capital expenditure, asset monetisation, and the financial health of Central Public Sector Enterprises (CPSEs). The reshuffle comes ahead of a Cabinet expansion later that day. These rules will be known as the Government of India (Allocation of Business) Three Hundred and Sixty-First Amendment Rules, 2021, according to the gazette notification. Economic Affairs, Revenue, Expenditure, Investment and Public Asset Management, and Financial Services are the five departments that make up the finance ministry. With the addition, the finance ministry will have a total of six departments. According to the notification, the DPE's responsibilities include coordinating general policy matters affecting all PSEs, evaluating and monitoring PSE performance, including the memorandum of understanding mechanism, and reviewing capital projects and expenditure in CPSEs. In addition, the DPE outlines measures aimed at improving CPSE performance and other PSE capacity-building initiatives, as well as providing advice on PSE revival, restructuring, or closure, including the mechanisms, counselling, training, and rehabilitation of employees in CPSEs under the Voluntary Retirement Scheme, and categorising CPSEs, including conferring 'Ratna' status, among other things. The ministry of heavy industries will remain the administrative ministry in charge of the capital goods sector. The Ministry of Heavy Industries will oversee 44 CPSEs, including Maruti Udyog Limited, BHEL, Cement Corporation, Scooters India, HMT, and other subsidiaries. Image Source Also read: Ministry of Finance announces key schemes to boost economy Also read: India to become global economic powerhouse: Nirmala Sitharaman

Products

06 Oct 2025

TOTO India Launches Premium G & L Showers with Sleek Faucet Range

TOTO India has launched its G Shower and L Shower series, alongside an expanded range of GT, LH, and Pull-Out lavatory faucets. The collection blends advanced technology, refined aesthetics, and everyday comfort, staying true to TOTO’s philosophy of creating spaces that are both beautiful and functional. The G Shower series delivers the 3Rs of showering: Relaxing, Refreshing, and Revitalizing. Features include the Calming Shawl spray mode, Warm Spa technology, and multiple overhead and hand-shower options across eight finishes. The L Shower complements this with easy-to-use controls sui..

Infrastructure Energy

06 Oct 2025

Hero Future Energies Secures Funding for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19.08 billion in funding from the State Bank of India (lead) and Canara Bank. The funds will be used to develop and construct HFE’s 120 MW renewable energy hybrid project at Kurnool, Andhra Pradesh. The project, contracted with SJVN, integrates wind, solar, and storage technologies to deliver reliable peak power. With a 21-year repayment period, the funding ensures timely execution and the commencement of commercial operations. The financial closure demonstrates continued lender confidence in..

Infrastructure Energy

06 Oct 2025

IOC GPS Renewables Raises Rs 8.36 billion Debt for Compressed Biogas Plants

IOC GPS Renewables Private Limited (IGRPL), a joint venture between IndianOil Corporation and GPS Renewables, has raised Rs 8.36 billion (approx. US$ 95 million) in debt financing from Indian Bank to execute nine Compressed Biogas (CBG) projects across India. The funding is the largest single-bank debt raise in the CBG sector and the first fully non-recourse financing in India for these projects. The plants—four in Haryana, three in Uttar Pradesh, one each in Chhattisgarh and Andhra Pradesh—will each produce 15 tonnes of CBG per day using paddy straw as feedstock. All nin..