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Ms. Aradhana Johri

Past Secretaries

Mr. Ravi Mathur (Profile)


Promote people's ownership of Central Public Sector Enterprises through disinvestment and to release resource for capital investment.Improvement in corporate governance through listing of Central Public Sector Enterprises on stock exchanges.


  • List all unlisted profitable Central Public Sector Enterprises on stock exchanges and increase public shareholding in the ones listed, to facilitate. 
  • Higher disclosure levels to bring about greater transparency and accountability in the functioning of the Central Public Sector Enterprises. 
  • Bringing market discipline to the functioning of Central Public Sector Enterprises.
  • Unlocking the true value of the Central Public Sector Enterprises for all stakeholders namely investors, employees, company and the Government
  • Develop and deepen the capital market through spread of equity culture.
  • Already listed profitable CPSEs (not meeting mandatory shareholding norm) to be made compliant
  • Disinvestment of Government of India shareholding through any mode, on a case by case basis

Departmental Website


The Department of Disinvestment was set up as a separate Department on 10 December 1999 and was later renamed as Ministry of Disinvestment from 6 September 2001.
From 27 May 2004, the Department of Disinvestment is one of the Departments under the Ministry of Finance.
As per the present Allocation of Business rules, the mandate of the Department is as follows:
  • All matters relating to disinvestment of Central Government equity from Central Public Sector Enterprises (CPSEs).
  • All matters relating to sale of Central Government equity through offer for sale or private placement in the erstwhile CPSEs (inserted through amendment Notification dated 28 June 2007). Note: All other post disinvestment matters, including those relating to and arising out of the exercise of call option by the strategic partner in the erstwhile CPSEs, shall continue to be handled by the administrative Ministry or Department concerned, where necessary, in consultation with the Department of Disinvestment.
  • Decisions on the recommendations of the Disinvestment Commission on the modalities of Disinvestment, including restructuring.
  • Implementation of disinvestment decisions, including appointment of advisers, pricing of shares, and other terms and conditions of disinvestment.
  • Disinvestment Commission.
  • CPSEs for purposes of disinvestment of Government equity only.
  • Financial Policy in regard to the utilization of the proceeds of disinvestment channelized into the National Investment Fund (inserted through amendment dated 12 January 2006 to the Allocation of Business rules)


  1. To develop people’s ownership of Central Public Sector Enterprises through increased participation of retail investors
  2. To create awareness among public about disinvestment process
  3. To create appropriate reference tools of structures and processes for sale of minority shares through public offerings.
  4. To increase public shareholding in listed Central Public Sector Enterprises(through follow on offerings and Exchange Traded Fund based on CPSE shares.
  5. To raise resources for capital investment.
  6. To ensure listing of Central Public Sector Enterprises on the stock exchanges.


Outcome/ Impact of department/ ministry Jointly responsible for influencing this outcome / impact with the following department (s) / ministry(ies) Success Indicator Unit FY 11/12 FY 12/13 FY 13/14 FY 14/15 FY 15/16
Raise budgetary resources and to improve corporate governance through market discipline in CPSEs Administrative Ministries/ DPE/DOPT Funds raised through Offerings Amount in Crore 13894.05 23956.82      
Increased accountability through listing of CPSEs on the stock exchange Administrative Ministries/ DPE/DOPT Number of CPSEs listed on stock exchange No. 1 0      
    Percentage of eligible CPSEs listed on Stock Exchanges % 2 0      
Increased participation of Public   Percentage of CPSE shares held with public for the CPSEs additionally listed in the year % 10 0      
Increased participation of Retail Investors   Percentage of CPSE shares held with retail investors for the CPSEs listed in the year % 3.5 0