The Department of Disinvestment has been renamed as Department of Investment and Public Asset Management or ‘Dipam‘, a decision aimed at proper management of Centre’s investments in equity including its disinvestment in central public sector undertakings.

• The new department has been mandated to “advise the government in the matters of financial restructuring of central public sector enterprises and for attracting investment through capital markets.
• Finance Minister Arun Jaitley had announced renaming of the Department of Disinvestment in his budget speech for 2016-17.
• The Dipam will work under Finance Ministry and it will deal with “all matters relating to management of central government investments in equity including disinvestment of equity in central public sector undertakings.
• It will also deal with all matters relating to sale of central government equity through offer for sale or private placement or any other mode in the erstwhile central public sector undertakings.
• All other post disinvestment matters shall continue to be handled by the Union administrative ministry or concerned department with the consultation of DIPAM on necessity.