Government e-Marketplace Order Crosses Rs 1 Lakh Crore – Free PDF Download

What has happened?

• Government e-Marketplace (GeM) has attained an annual procurement of Rs 1 Lakh crore in the current financial year,
• On account of sharp increase in buying activities by different ministries and departments, Prashant Kumar Singh, CEO, GeM, said on Thursday.
• Earlier the portal has crossed 1 lakh crore mark in about four and half years but now this was achieved during the current fiscal.
• This represents a 160 per cent growth compared to the last financial year.

What is GeM portal?

• Government e-Marketplace (GeM) is a one stop portal to facilitate online procurement of common use Goods & Services required by various Government Departments / Organizations / PSUs.
• The initiative was launched on August 9, 2016, by the Ministry of Commerce and Industry with an objective to create an open and transparent procurement platform for government buyers.
• GeM aims to enhance transparency, efficiency and speed in public procurement.
• It provides the tools of e-bidding, reverse e-auction and demand aggregation to facilitate the government users achieve the best value for their money.
• The purchases through GeM by Government users have been authorized and made mandatory by Ministry of Finance by adding a new Rule No. 149 in the General Financial Rules, 2017.

Top 5 in the world

• The number of orders has also surpassed 31.5 Lakh in the current financial year with a growth at the rate of 22%.
• In a short span of 5 years, GeM has become one of the biggest government e-procurement platforms in the world.

• Referring to the share of Central Public Sector Enterprises (CPSEs), Singh said that,
• Approximately Rs 43,000 crore worth procurement was done by CPSEs on GeM, showing an approximate growth of 508 per cent as compared to last FY.

MSME & Women

• 57 per cent of the total business on GeM has come through the MSME units and over 6 per cent has been contributed by female entrepreneurs.
• It may be noted that the number of women sellers and entrepreneurs on GeM has grown 6 times in a year.

savings

• According to an independent assessment made by the World Bank, the average savings for buyers in the Government e-Marketplace portal is about 9.75% on the median price.
• In an analysis in the Economic Survey 2021-22, cost comparison of various commodities on GeM with those of popular online platforms such as Amazon and Flipkart showed that GeM prices were 9.5% lower.

Q) The power to create and abolish legislative council in states is vested with which among the following?

1. State Legislative Assembly
2. President of India
3. Parliament of India
4. Governor of the state

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