Govt relaxes norms under public procurement for startup MSMEs
Free Current Affairs to Your Email
Posted on:14 Mar 2016 14:46:51
14 March 2016 Current Affairs: Government has relaxed procurement norms related to experience and turnover for micro, small and medium startups with a view to enabling these ventures to be part of its public procurement.From April 2015, all PSUs, central government ministries and departments have been directed to procure at least 20% of products and services required by them from micro and small enterprises."If the MSMEs can deliver the goods and services as per prescribed technical & quality specifications, the norms on prior experience and prior turnover will be relaxed for them," the MSME Ministry is a release.The move will enable startup MSMEs to be a part of the mandatory 20% public procurement."The relaxation has been made to create a conducive environment for the startups in India, which is high on the agenda of the government," the MSME Ministry.A review of the mandatory procurement policy by MSME Minister Kalraj Mishra last month had found that less than half of the PSUs were complying with the mandatory 20% procurement of products and services from micro and small enterprises.Besides, to ensure better implementation of quality management standards/quality technology tools scheme under the National Manufacturing Competitiveness Programme,MSME Ministry has decided to conduct two international study missions in collaboration with CII and Consultancy Development Corporation in this fiscal ending March as well as in next financial year.
FreshersLive - No.1 Job site in India. Fresherslive Current Affairs 2017 section offers informative quiz questions with answers regarding latest current affairs today for all sorts of competitive exams like UPSC, TNPSC , IFS, IAS, IPS, railway exams (RRB) and banking exams like IPBS PO, IPBS clerk, Federal Bank PO, ICICI, SBI, RBI legal officer & Grade officer posts and much more. Register with us to get latest Current Affairs Updates. Also get latest Current Affairs news and quiz Updates for free alerts daily through E-mail