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11:59 pm - Sunday February 18, 2018

Government attaches great importance to fairness, transparency and accountability in public procurement

Agencies, New Delhi

Union Minister of State for Finance & Shipping, Pon Radhakrishnan said on Thursday that the Government has attached great importance to fairness, transparency and accountability in public procurement and it has raised the citizen’s expectation in terms of efficiency and outcomes of public spending.

While inaugurating the two day Third Global Procurement Summit in national capital, Mr Radhakrishnan said that the Government has also raised the citizen’s expectation in terms of efficiency and outcomes of public spending.

He said that the present Central Government has a clear vision of transforming the procurement and public service delivery.Mr Radhakrishnan pointed-out that the Government procurement contributed nearly 20 per cent of the GDP and said that public procurement was an important policy instrument.

Highlighting the Central Government’s focus on improving procurement, the Minister referred to the Government’s e-marketplace (GeM) initiative. He highlighted the use of procurement to achieve economic inclusion of MSMEs and Start-ups to create jobs.

He also mentioned the efforts of the Government of India to promote Sustainable Procurement especially in the case of promotion of LED lamps, electrification projects of Railways, etc.

The two day Summit is being organized by All India Management Association (AIMA), World Bank and the Government of India. It is being attended among others by the Senior External Resources Officers from the Government of India, Executives from public and private Indian companies and delegates from Asia, Africa, Europe and the US.

Mr Radhakrishnan congratulated All India Management Association and World Bank for creating a knowledge platform for the procurement professionals and wished the Summit success.

In his Keynote Address on the occasion, Ajay Narayan Jha, Secretary (Expenditure) said that the Central Government had brought in a paradigm shift in procurement to ensure that the Government procurement is fair and transparent and includes an accountability process covering the entire value chain. He said that the next year’s infrastructure spending budget alone was about Rs 6 lakh crore.

The theme of the two-day Summit is ‘New Frontiers faced in the Transformation process of Procurement Today’ and the discussions are aimed at addressing the changes in the nature and environment of the procurement function.

More than 200 procurement officials from all over the world are attending the Global Procurement Summit. The speakers include government officials from India, US and UK besides senior leaders from World Bank, public and private sector companies and global consultants.

Posted in: Business

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