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

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Real Estate

07 Jul 2026

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Infrastructure Urban

07 Jul 2026

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..