The Senior IAS officer Tuhin Kanta Pandey ( 1987 Odisha Cadre ) was appointed as India’s New Finance Secretary of DIPAM ( Department of Investment and Public Asset Management ).
The Government’s official order stated that “The Appointments Committee of the Cabinet has approved designating Shri Tuhin Kanta Pandey, IAS ( OR:87 ), Secretary, Department of Investment and Public Asset Management, ministry of finance as Finance Secretary”.
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The position became vacant after T.V. Somanathan was appointed as Cabinet Secretary last month. Following convention, the most senior secretary in the Union Finance Ministry is appointed as Finance Secretary.
The DIPAM is responsible for managing the Central Government’s equity investments, including the disinvestment of shares in Central Public Sector Enterprises ( CPSEs ). Its core functions encompass three main areas: Strategic Disinvestment and Privatization, Minority Stake Sales, and Capital Restructuring.
DIPAM oversees all transactions related to the sale of government equity in CPSEs, whether through offers for sale, private placements, or other methods, as well as strategic disinvestment efforts. DIPAM operates under the Ministry of Finance.
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DIPAM’s vision is to foster public ownership in Central Public Sector Enterprises ( CPSEs ), allowing citizens to share in their growth and success through disinvestment. It aims to ensure efficient management of public investments in CPSEs, driving economic development and generating additional resources for increased government expenditure.
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