Unleashing govt’s procurement power | Expert Views

The government and its agencies are large buyers of a wide range of goods and services. For example, it is the sole buyer of defence equipment. Public sector undertakings procure inputs for their production processes and are all required to comply with a procurement system that has become increasingly rigid and subject to strict process oversight, including auditing and vigilance. Tenders have to be issued inviting bids for supply with precise specifications. Prequalification criteria for bidders are prescribed. The lowest bidder, or L1, has to be awarded the contract.  Retendering takes place if only one bid is received.

This process,

First Published: Feb 21 2024 | 10:13 PM IST