Govt relaxes norms under public procurement for startup MSMEs

Posted on:14 Mar 2016 14:46:51

Govt relaxes norms under public procurement for startup MSMEs
14 March 2016 Current Affairs GK: 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.

Gk Current Affairs April 2017

26 APRIL
NEWS
25 APRIL
NEWS
24 APRIL
NEWS
22 APRIL
NEWS

Gk Current Affairs March 2017

31 MARCH
NEWS
30 MARCH
NEWS
29 MARCH
NEWS
28 MARCH
NEWS

Gk Current Affairs February 2017

28 FEBRUARY
NEWS
27 FEBRUARY
NEWS
25 FEBRUARY
NEWS
24 FEBRUARY
NEWS




Get Daily Current Affairs to your Email

You can Unsubscribe us at any time.

Get Daily Current Affairs to your Email

You can Unsubscribe us at any time.