Govt clocks Rs 40,000 crore in public procurement transactions through GeM
New Delhi: Public procurement worth Rs 40,000 crore has taken place through the government's online marketplace GeM, Expenditure Secretary T V Somanathan said on Monday.
Stressing that the focus of public procurement system is on economy, rigour, fairness and transparency, he said the efficiency of procurement makes a big difference to the fiscal discipline of government.
Towards this, the government has recently revised the general financial rules (GFR) and procurement manuals, and made advances in the use of technology in procurement.
The Government e-Marketplace (GeM), an online platform for public procurement, was launched by the Commerce Ministry in August 2016 with the objective of creating an open and transparent procurement platform for government departments. Currently, 3.24 lakh vendors are registered on this platform.
"We have the GeM, central procurement portal, which currently has electronic bids of 1,00,000 tenders - including state government tenders. And we have (Rs) 18-19 lakh crore per annum, of tendering on central public procurement portal (CPPP)," Somanathan said while addressing the Global Procurement Summit 2020.
"The government electronic marketplace established in 2016 for common used goods and services have clocked transaction of Rs 40,000 crore," he stated.
Finance Minister Nirmala Sitharaman, in her 2020-21 Budget speech, said the government is looking to increase the turnover of the GeM portal to Rs 3 lakh crore.
CPPP is operational since 2012 and hosts the Government eProcurement System.