New Delhi, Feb. 28: The department of company affairs (DCA) will be absorbed into the finance ministry as one of its departments. The finance ministry, which was being called by the longish nomenclature of ‘ministry of finance and company affairs’ for some time now, will revert to its original name of ‘ministry of finance’, the finance minister today said.
Talking to reporters here today, DCA secretary Vinod Dhall said the DCA was already part of the finance ministry. Earlier, DCA was the part of the ministry of law, justice and company affairs.
The other departments in the finance ministry are the department of economic affairs , revenue, expenditure and Foreign Investment Promotion Board). DEA is being restructured and is stated to become more powerful.
Asked if DEA’s restructuring will have a bearing on DCA, Dhall said that he cannot comment on this right now. He also said the modalities of DCA’s composition as another department of the finance ministry will be done in tune with the guidance of the ministry.
Dhall said the core team of the SFIO will be finalised by April. “We are working on the modalities of setting up office and working on the budgetary provisions,” he added.