SC: Casual Workers Can't be Denied Regularisation if Similar Daily Wagers were Regularised  ||  Supreme Court: Illegal Change of Land Use under Punjab Act Cannot be Legalised Later  ||  Allahabad High Court: Magistrate Must Consider Closure Report Even After Taking Cognizance  ||  Allahabad HC: CGST Arrest Memo Must Include Grounds as Annexure; Reasons to Believe Not Needed  ||  Kerala HC: Petitioner’s Identity Must be Verified Via SHO in Cases of Bank Account Defreezing  ||  J&K&L HC: Undenied Pleadings are Deemed Admitted by Implication under the CPC  ||  Kerala HC: Transfer Order Pending Disciplinary Proceedings Cannot be Disguised as Punishment  ||  Allahabad HC: GST, Incentives, 0r Festival Advances Cannot be Deducted From Employee’s Retiral Dues  ||  SC: Absconding Accused Cannot Claim Anticipatory Bail Solely Because a Co-Accused Was Acquitted  ||  Supreme Court: District Cricket Bodies Must Adopt Good Governance Voluntarily, Not Follow BCCI Rules    

Finance Ministry releases guidelines for reforms in Public Procurement and Project Management - (29 Oct 2021)

Commercial

In order to ensure efficient and transparent execution of projects, Finance Ministry releases guidelines for reforms in Public Procurement and Project Management. Guidelines attempts to incorporate innovative rules. The draft of the guidelines was prepared under the aegis of the Central Vigilance Commission (CVC) after a detailed consultative process involving experts from various fields of public procurement and project management.

The guidelines attempts to empower executing agencies to take quicker and more efficient decision in public interest. Some of the improvements include prescribing strict timelines for payments, when due. Timely release of ad hoc payments (70% or more of bills raised) is expected to improve liquidity with the contractors especially Micro, Small and Medium Enterprises (MSMEs).Alternative methods for selection of contractors have been permitted, which can improve speed and efficiency in execution of projects. In appropriate cases, quality parameters can be given weightage during evaluation of the proposal in a transparent and fair manner, through a Quality cum Cost Based Selection (QCBS), as an alternative to traditional L1 system.

Executing public projects on time, within the approved cost and with good quality has always been a challenge. As the pace of economic development steps up, careful examination of procedures and rules is essential to ensure unwarranted roadblocks are removed and new innovations utilized for increasing value for money of the taxpayer.The Central Vigilance Commission (CVC), the Comptroller & Auditor General (CAG) and the National Institution for Transforming India (NITI) Aayog had carried out detailed analysis of the procedures and rules for public procurement and project management and had suggested changes in strategies to meet challenges of present and future public procurement.

Tags : GUIDELINES   REFORMS   PUBLIC PROCUREMENT  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved