Govt amends General Financial Rules to ensure procurement of goods & services below Rs 200 crore from domestic firms
- The government has notified amendments to General Financial Rules (GFR) 2017 to ensure that goods and services valued less than Rs 200 crore are procured from domestic firms. This will give big boost to domestic suppliers, especially micro, small and medium enterprises (MSMEs).
- The amendments will ensure that henceforth global tenders will be disallowed in government procurement up to Rs 200 crore, as announced in the Aatma Nirbhar Bharat Package.
Points to remember:
- Government has amended the General Financial Rules (GFR) 2017 to ban global tender in government procurement upto ________?Rs 200 crore