In the year 2021, the Department of Public Enterprises has now been made part of the __________ Ministry, to speed up the privatisation process and exercise greater financial control over the state-run-enterprises.

Question

Question

This question was previously asked in

SSC CHSL Exam 2024 Tier-I Official Paper (Held On: 10 Jul, 2024 Shift 2)

Answer 1

The correct answer is Finance

Key Points

The Department of Public Enterprises was integrated into the Ministry of Finance in 2021.
This move was aimed at accelerating the privatisation process and enabling greater financial oversight over state-run enterprises.
The restructuring is expected to streamline decision-making and enhance efficiency in managing public sector enterprises.
The Ministry of Finance is responsible for the economic and financial administration of the government, making it well-suited to oversee public enterprises.

Additional Information

The Department of Public Enterprises (DPE) was originally under the Ministry of Heavy Industries and Public Enterprises.
This reallocation aims to align public enterprises' functioning with the broader economic policies and fiscal strategies of the government.
Privatisation is a key component of the government's strategy to reduce fiscal burden and improve the efficiency of public sector units (PSUs).
The Ministry of Finance plays a pivotal role in formulating and implementing India's economic policies, including budget preparation, taxation, and financial regulations.