Upto 60% Off on UPSC Online Courses

Avail Now
  »   Current Affairs   »   Procurement Through Government e Marketplace (GeM)

Procurement Through Government e Marketplace (GeM)

December 15, 2023

GS Paper III Indian Economy

Context: Procurement of goods and services through the Government e Marketplace (GeM) is expected to reach Rs 3.5 lakh crore by the end of this fiscal year.

More About the news:

  • Increase in procurement: This is driven by increased purchasing activities across various Ministries and Departments.
  • Procurement by Central Public Sector Enterprises (CPSE):  It contributes to nearly 63% of its total Gross Merchandise Value (GMV). 
    • The purchase by CPSEs on GeM accounted for almost 63% of the entire procurement.
    • In 2023–24, CPSE procurement exceeded Rs 1 lakh crore in just 6.5 months. 

About Government e Marketplace (GeM)

  • About: GeM is a one stop portal to facilitate online procurement of common use Goods & Services required by various Government Departments / Organizations / PSUs. 
  • Aim: Launched in 2016, it aims to enhance transparency, efficiency and speed in public procurement. 
  • Nodal Ministry: Ministry of Commerce
  • Mandatory Purchase by Government Entities: The purchases through GeM by Government users have been authorized and made mandatory by the Ministry of Finance.

News Source: Economic times

 

Print Friendly, PDF & Email

To get PDF version, Please click on "Print PDF" button.

Print Friendly, PDF & Email

Recent Editorial

UNION BUDGET 2024-25

The Issues With State-Sponsored Street Art

How children win with U-WIN, Govt’s new online v...

Benefits Of The Domestic Silk Route

Cops Can’t Force, Supreme Court Pauses Kanwa...

From Madhya Rekha to Sindhu-Sarasvati: Major shift...

Popular current affairs

News in Shorts: 24 July 2024

Climate Finance Taxonomy

Budget 2024–25: Unemployment

Supreme Court Split Verdict on GM Mustard Approval

Corridor Projects Announced for Bihar’s Vishnupa...

Webb Telescope On Cosmic Brown Dwarfs

Our Courses

Our Courses

Need help preparing for UPSC or State PSCs?

Connect with our experts to get free counselling & start preparing

THE MOST
LEARNING PLATFORM

Learn From India's Best Faculty

# #
      
Subscribe our Newsletter
Sign up now for our exclusive newsletter and be the first to know about our latest Initiatives, Quality Content, and much more.
*Promise! We won't spam you.
Yes! I want to Subscribe.

Contact Details

G-Floor,4-B Pusha Road, New Delhi, 110060

Download Our App

# #

 Final Result – CIVIL SERVICES EXAMINATION, 2023.   Udaan-Prelims Wallah ( Static ) booklets 2024 released both in english and hindi : Download from Here!     Download UPSC Mains 2023 Question Papers PDF  Free Initiative links -1) Download Prahaar 3.0 for Mains Current Affairs PDF both in English and Hindi 2) Daily Main Answer Writing  , 3) Daily Current Affairs , Editorial Analysis and quiz ,  4) PDF Downloads  UPSC Prelims 2023 Trend Analysis cut-off and answer key

THE MOST
LEARNING PLATFORM

Learn From India's Best Faculty

# #
      
Follow Us:
Subscribe our Newsletter
Sign up now for our exclusive newsletter and be the first to know about our latest Initiatives, Quality Content, and much more.
*Promise! We won't spam you.
Yes! I want to Subscribe.

Contact Details

Download Our App

# #

 Final Result – CIVIL SERVICES EXAMINATION, 2023.   Udaan-Prelims Wallah ( Static ) booklets 2024 released both in english and hindi : Download from Here!     Download UPSC Mains 2023 Question Papers PDF  Free Initiative links -1) Download Prahaar 3.0 for Mains Current Affairs PDF both in English and Hindi 2) Daily Main Answer Writing  , 3) Daily Current Affairs , Editorial Analysis and quiz ,  4) PDF Downloads  UPSC Prelims 2023 Trend Analysis cut-off and answer key
Quick Revise Now !
AVAILABLE FOR DOWNLOAD SOON
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध
Quick Revise Now !
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध

<div class="new-fform">







    </div>

    Subscribe our Newsletter
    Sign up now for our exclusive newsletter and be the first to know about our latest Initiatives, Quality Content, and much more.
    *Promise! We won't spam you.
    Yes! I want to Subscribe.