Objective: To ensure efficient, transparent, and fair acquisition of goods, services, and works, achieving value for money, promoting competition, and preventing corruption.

Principles: Transparency, accountability, fairness, non-discrimination, efficiency, economy, and integrity are paramount.

Methods: Common methods include open tendering (most common), limited tendering, single-source procurement, and request for proposals. E-procurement platforms are increasingly used.

Tendering Process: Typically involves invitation to tender, bid submission, bid evaluation, contract award, and subsequent contract management.

General Financial Rules (GFR) 2017: Provide a comprehensive framework for financial management, including procurement procedures for the central government. States have their own financial rules and procurement acts.

Thresholds: Specific monetary limits often dictate the procurement method (e.g., direct purchase, limited tender, open tender). The news mentions a ₹50 lakh limit for non-tendered work.

Government e-Marketplace (GeM): An online platform for public procurement of common use goods and services, enhancing transparency and efficiency.

Preference to Make in India (PMMI) Order: Government policy to encourage domestic manufacturing and services in public procurement.

Vigilance: The Central Vigilance Commission (CVC) and other bodies play a crucial role in overseeing procurement processes to prevent malpractices.

Contract Management: Post-award activities including monitoring performance, ensuring timely payments, and resolving disputes.

Objective: To ensure efficient, transparent, and fair acquisition of goods, services, and works, achieving value for money, promoting competition, and preventing corruption.

Principles: Transparency, accountability, fairness, non-discrimination, efficiency, economy, and integrity are paramount.

Methods: Common methods include open tendering (most common), limited tendering, single-source procurement, and request for proposals. E-procurement platforms are increasingly used.

Tendering Process: Typically involves invitation to tender, bid submission, bid evaluation, contract award, and subsequent contract management.

General Financial Rules (GFR) 2017: Provide a comprehensive framework for financial management, including procurement procedures for the central government. States have their own financial rules and procurement acts.

Thresholds: Specific monetary limits often dictate the procurement method (e.g., direct purchase, limited tender, open tender). The news mentions a ₹50 lakh limit for non-tendered work.

Government e-Marketplace (GeM): An online platform for public procurement of common use goods and services, enhancing transparency and efficiency.

Preference to Make in India (PMMI) Order: Government policy to encourage domestic manufacturing and services in public procurement.

Vigilance: The Central Vigilance Commission (CVC) and other bodies play a crucial role in overseeing procurement processes to prevent malpractices.

Contract Management: Post-award activities including monitoring performance, ensuring timely payments, and resolving disputes.