CPSE purchases via GeM portal hit Rs 1.37 lakh crore, beat entire FY23 level: Finmin
About a third of these purchases, or worth about Rs 46,013 crore, were from the micro, small and medium enterprises this fiscal, minister of state for finance Pankaj Chaudhary said in a written reply to the Lok Sabha.
The government has raised the mandatory minimum purchases from MSMEs by various government departments and CPSEs to 25% from 20% earlier, the minister said. It then tightened the monitoring of the compliance of the rule in a bid to support these small players.
The total purchases by CPSEs through the GeM platform had exceeded the Rs 1-lakh-crore mark for the first time in FY23.
The government had launched the GeM portal in August 2016, as it wanted to enhance transparency in purchases of various goods and services by all ministries, departments and public-sector firms and state governments, in addition to providing a modern platform for official procurement.
The sellers range from small business to large companies from both public and private sectors.
In July last year, the government had also asked all its ministries and departments and central public-sector enterprises (CPSEs) to conduct all purchases through the GeM portal only by the end of FY23. This directive also aided the rise in procurement through this platform.
