The Department of Disinvestment was set up as a separate Department on 10th December, 1999 and was later renamed as Ministry of Disinvestment form 6th September, 2001. From 27th May, 2004, the Department of Disinvestment is one of the Departments under the Ministry of Finance. The Department of Disinvestment has been renamed as Department of Investment and Public Asset Management (DIPAM) from 14th April, 2016.
The Vision of the department is to promote peoples ownership of Central Public Sector Enterprises (CPSE) to share in their prosperity through disinvestment, efficiently managing the public investment in CPSEs for accelerating economic development and augmenting Governments resources for higher expenditure. The Mission of the department is to list CPSEs on stock exchanges to promote peoples ownership through public participation and improving efficiencies of CPSEs through accountability to its shareholders. To bring in operational efficiencies in CPSEs through strategic investment, ensuring their greater contribution to economy. Adoption of professional approach for financial management of CPSEs in the national interest and investment aimed at expanding public participation in ownership of CPSEs.