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).
For MSMEs the transition could mean higher wage bills and tougher compliance -- unless strong handholding follows reports Auhona Mukherjee.
The US government, under President Trump, justifies the intervention as a security necessity rather than a resource grab. The primary official reasons include: narco-terrorism charges, national security and migration crisis.
India's equity markets may have expanded rapidly, but initial public offerings (IPOs) are increasingly becoming exit vehicles for early investors rather than as engines for raising long-term capital, a shift that undermines the spirit of public markets, Chief Economic Advisor V Anantha Nageswaran warned on Monday at a CII event.
The BJP-led government's decision to grant Kunbi status to individuals from the Maratha community has opened a Pandora's box.
'The government is actively engaging with EU to ensure that concerns of Indian companies and hard-to-abate sectors are adequately addressed under CBAM'
Union Minister of Heavy Industries and Public Enterprises, H D Kumaraswamy on Saturday clarified that he was misquoted on his purported remarks regarding the United States semiconductor firm Micron.
Prime Minister Narendra Modi on Wednesday asked the Congress to tell the nation who prevented India's military response after the 26/11 Mumbai terror attacks linked to Pakistan, and accused the party of weakening the fight against terrorism when in power.
From a high-profile civil aviation ministry to a relatively low-key Ministry of Heavy Industries and Public Enterprises, Praful Patel is currently busy in launching a multi-pronged strategy for making public sector enterprises globally competitive.
Bharatiya Janata Party's National Democratic Alliance partners have got five cabinet ministerial berths in the third term of Prime Minister Narendra Modi, as against none in the outgoing government, given the party's dependence on allies for a majority in the Lok Sabha.
Former Maharashtra Chief Minister Vilasrao Deshmukh on Friday took charge of the Ministry of Heavy Industries and Public Enterprises, and said achieving the 100-day target set by Prime Minister Manmohan Singh would be his priority.
He alleged that the public enterprises department headed by Heavy Industries and Public Enterprises Minister Sontosh Mohan Dev has been "pursuing a much narrower agenda, in which governance reform of PSUs does not figure
Giving a shot in the arm to ONGC chairman Subir Raha, who has been resisting appointment of additional government directors on the company board, the department of public enterprises on Wednesday said their number cannot exceed two.
The senior leader from Assam refused to assume office as Minister of State with independent charge of Heavy Industries Ministry after RJD's Taslimuddin was also appointed as MoS of the same ministry.
About 40 top positions in central public sector enterprises have been lying vacant for more than three months due to delay in vigilance clearance and approval of competent authority, Lok Sabha was informed on Thursday.
Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
The government said on Friday it is considering offloading 10 per cent of its equity stake in navratna public sector unit Bharat Heavy electricals Limited.
Several top political leaders, including Uttar Pradesh Chief Minister Yogi Adityanath and Karnataka Chief Minister B S Yediyurappa, have also tested positive for COVID-19 recently.
His political career began with his involvement in the Rashtriya Swayamsevak Sangh and he later became a member of the Shiv Sena.
This is significant as the turnover of the CPSEs during the whole of 2007-08 went up by 12.13 per cent to Rs 10.82 lakh crore (Rs 10.82 trillion). The 36 per cent increase in turnover recorded by the central PSUs during the first half does not reflect the impact of the global financial meltdown on the performance of the state-owned companies.
The number of loss-making state-owned enterprises was 54 as on March 2008. The cumulative losses in these enterprises increased to Rs 96,636 crore (Rs 966.36 billion) in 2007-08 from Rs 77,826 crore (Rs 778.26 billion) in 2004-05.
Admitting the "failure" of the UPA government in grounding several mega projects in a time-bound-manner, Union Minister for Heavy Industries and Public Enterprises, Praful Patel blamed it on the environmental "activism within the government".
The new Congress-led government on Tuesday promised to 'revitalise' sick public sector units and strictly adhere to the roadmap laid out for divestment of public sector units in the Common Minimum Programme to be unveiled this week.
As per the well-established system, all the 249 public sector units are to sign a memorandum of understanding with their administrative ministries, setting the performance targets which are reviewed at the end of the fiscal year.
The MoUs are signed between the Central Public Sector Enterprises and the administrative ministries/departments.
Union Minister Vilasrao Deshmukh passed away at a hospital in Chennai on Tuesday after suffering from multiple organ failure.
The programme being outlined under the aegis of the ministry of heavy industries and public enterprises is part of the National Electric Mobility Mission Plan 2020.
Govt will save Rs 30,000 cr in fuel by giving Rs 14,000 cr subsidy to industry for making electric vehicles.
The government is working out a scheme that will facilitate finance for the auto component industry hit by economic slowdown and increasing competition from abroad.
The government on Tuesday provided enhanced financial autonomy to two public sector units -- Bridge and Roof Company and Bharat Pumps and Compressors -- by granting them the 'mini-ratna' status.
The reshuffle in the Cabinet of Ministers in the United Progressive Alliance II threw up a few surprises on Wednesday.
The automotive mission plan was launched on Monday envisaging a substantive increase in turnover and investment.
Over 54,000 public sector employees opted for voluntary retirement scheme in 2001-02, Rajya Sabha was informed on Monday.
If the country wants to have eco-friendly vehicle, definitely some concessions have to be offered.
Top level public sector executives, including directors and chief executives, will not be able to join private firms after retirement or resignation unless they get go-ahead from the government.
By the year 2026, India will be the third in the world after China and USA in engineering, manufacturing and export of vehicles and auto components.
Replying to questions in Rajya Sabha, he said CAG in its audit observations has pointed out financial irregularities of Rs 1404.32 crore (Rs 14.04 billion) in its 2008 report and Rs 4547.63 crore (Rs 45.47 billion) in the 2007 report. Deshmukh said CAG has also pointed out reasons for deficiencies in the accounts of PSUs.
Here is the complete list of ministers in Modi 3.0 and their portfolios:
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