‘GeM may offer works contracts.
‘GeM may offer works contracts.
Current Affairs Daily Articles & Editorials
La Excellence IAS Academy | March 30, 2024 | Economy
| Syllabus: GS-III; Subject: Economy; Topic: Fiscal policy and Budgeting, Issue: Works contracts. |
Context: Government e-Marketplace (GeM) plans to offer works contracts for construction projects, awaiting the Centre’s approval.
- Government e-Marketplace is an online platform launched by the Government of India in 2016 to facilitate public procurement in a transparent and efficient manner.
Highlights:
- The aim is to introduce transparent monitoring for contract progress.
- Highlights lengthy traditional tendering process for works contracts.
- GeM inclusion would enable nationwide bidding and online project monitoring.
- Features may include milestone-linked payments and post-contract management.
Source: The Hindu
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