Cabinet Minister Arun Jaitley has been given the crucial portfolio of Corporate Affairs, making him a true heavyweight in the newly formed Modi Government at the Centre.
Jaitley was earlier tipped to get finance and defence portfolios.
A formal announcement of the portfolios on Tuesday morning showed that Jaitley has been given the portfolios of finance, defence and corporate affairs.
There is wide speculation that the Corporate Affairs Ministry may in the coming days be transformed into a department and become part of the Finance Ministry.
The Modi Cabinet will meet this evening to discuss among other things the portfolios allocated to various ministers.
Meanwhile, Nirmala Sitharaman has been given the portfolios of Finance and Corporate Affairs in the rank of Minister of State.
She has also got independent charge of Commerce and Industry.