A man is cleaning the name plate of Finance Ministry outside the North block on Thursday. 24.01.2019)The government has merged the Department of Public Enterprises (DPE) with the Finance Ministry to give it a better control over state-owned firms and facilitate its ambitious privatisation programme. Finance Ministry will now have six departments while DPE’s hereto parent ministry, the Ministry of Heavy Industries and Public Enterprises will now be called the Ministry of Heavy Industries. Previously, the Disinvestment Ministry – created under the Atal Bihari Vajpayee government – was merged with the Finance Ministry and is now a department under it. Also, Foreign Investment Promotion Board (FIPB) was abolished and administration of foreign investments was given to the Finance Ministry (FinMin).

Source: Indian Express July 07, 2021 08:15 UTC