Cabinet approves public procurement Bill

   Apr 12, 4:02 pm

New Delhi, Apr 12 (ANI): The Union Cabinet on Thursday approved the Public Procurement Bill, 2012 that seeks to regulate government purchases of above Rs 50 lakh through a transparent bidding process

The Bill is based on broad principles and envisages a set of detailed rules, guidelines and model documents.

The Bill would create a statutory framework for public procurement, which will provide greater accountability, transparency and enforceability of the regulatory framework.

The Bill provides for the following:

a. Ensuring that competition will be maximised in procurement in the interests of economy, efficiency, and integrity.

b. Providing for adequate flexibility to take into account diversity of needs and types of procuring entities, types of procurement needs and methods of procurement.

c. Providing for a strong framework of transparency and accountability through a public procurement portal and a grievance redressal system in which an independent mechanism, chaired by a retired High Court Judge, would review grievances. (ANI)

India fully supports cause of Palestinians: Sushma Swaraj Jul 31, 8:22 pm
New Delhi, July 31 (ANI): External Affairs Minister Sushma Swaraj today said that India's policy is clear on Gaza crisis and that the country fully supports the cause of Palestinians.
Full Story
India-US indispensable partners of 21st century: John Kerry Jul 31, 8:22 pm
New Delhi, July 31 (ANI): U.S Secretary of State John Kerry said that US and India can and will be indispensable partners of the 21st century, at the fifth Indo- US Strategic Dialogue here today.
Full Story
Petrol prices cut by rupees 1.09 a litre Jul 31, 8:05 pm
New Delhi, July 31 (ANI): The price of petrol price was reduced by Rs.1.09 per litre, while the price of diesel was hiked by 50 paise per litre on Thursday.
Full Story
DMRC achieves tunnel breakthrough at Lal Quila Jul 31, 8:05 pm
New Delhi, July 31 (ANI): DMRC today achieved a tunnel breakthrough at Lal Quila Metro station on the Central Secretariat - Kashmere Gate corridor of Phase 3 in the presence of Managing Director of DMRC Mangu Singh.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY