The Government's "bonfire of the quangos" has led to 114 public bodies being axed since the coalition took power, according to a Cabinet Office report.
More than 150 of the 900 organisations that were in existence in May 2010 are also being merged into fewer than 70.
But the Coalition has also created nine new quangos since the general election, the most significant being the Office for Budget Responsibility, which produces independent economic forecasts for the Government. Others include the Independent Commission for Aid Impact and the National Employment Savings Trust.
The influential Commons Public Accounts Committee has previously questioned government claims the reforms will generate £2.6 billion savings, warning the figure is based on "incomplete and imprecise" information.
But, publishing Public Bodies 2012, Cabinet Office Minister Francis Maude insisted the scheme is on track to meet the predictions.
He said: "Instead of just talking about the reform of public bodies, this Government carried out the biggest reform in a generation.
"We acted swiftly to close down unnecessary public bodies and ensure that those that remain are fit to deliver public services efficiently and effectively.
"By reducing duplication, waste and unnecessary bureaucracy departments tell us they are well on track to reduce the administrative cost of public bodies by at least £2.6 billion by 2015.
"Today's announcement shows we are more transparent about quangos than any Government before. But there is still a long way to go and our reviews will routinely test whether each public body is fit for purpose and providing the value for money that the taxpayer expects.
"We can also announce that the workforce numbers in scope of the Public Bodies Reform programme are projected to reduce by approximately 29% over the Spending Review period - more than was expected."