Unified Procurement System to be created; to offer great opportunity to MSMEs

New Delhi, Feb 1 (KNN) Government is planning to create a Unified Procurement System in the country to boost procurement from the micro, small and medium enterprises (MSMEs). This was proposed by Union Finance Minister Nirmala Sitharaman in her Budget Speech in the Parliament.

Presenting the Budget 2020-21, she said Government e-Marketplace (GeM) is moving ahead for creating a Unified Procurement System in the country for providing a single platform for procurement of goods, services and works.

She asserted that the Unified Procurement System will offer a great opportunity for Medium, Small and Micro Enterprises (MSMEs).

She informed as many as 3.24 lakh vendors are already on this platform. It is proposed to take its turnover to Rs 3 lakh crores.

“I propose to provide about Rs 27,300crore for development and promotion of Industry and Commerce for the year 2020-21,” she said. (KNN Bureau)

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