NEW DELHI: Amid the buzz of an imminent reshuffle in the Union Cabinet, the Finance Ministry has been expanded with the addition of the Department of Public Enterprises, the nodal entity for policy formulation for all central public sector units (PSU), informed the gazette notification issued by Union Cabinet Secretariat on Tuesday.
"Subsequently, as a result of the reorganization of the Ministries/Departments of the Union Government in September 1985, BPE was made part of the Ministry of Industry. In May, 1990, BPE was made a full-fledged Department known as the Department of Public Enterprises (DPE)," the website of the department said.
As per the department website, it was set up as the Bureau of Public Enterprises (BPE) in 1965 in the Ministry of Finance.
Till now, the Department of Public Enterprises was part of the Ministry of Heavy Industries and Public Enterprises.
The Central government on Tuesday also created a new 'Ministry of Co-operation' to provide a separate administrative, legal, and policy framework for strengthening the cooperative movement and to realise the vision of 'Sahkar se Samriddhi'.