Cabinet approves GeM SPV

Q.  What is the name of the National Public procurement portal to be launched for providing goods and services procurement by centre and state organizations?
- Published on 13 Apr 17

a. GeM SPV
b. Government e-Marketplace
c. Both a and b
d. None of the above

ANSWER: Both a and b
Cabinet approves GeM SPVThe Cabinet gave its nod for setting up of a special purpose vehicle for providing procurement of goods and services required by Central & State Government organisations on April 12, 2017.

This Government e-Marketplace (GeM SPV) will been registered as the National Public Procurement Portal as a Section 8 company registered under the Companies Act.

GeM SPV shall provide an end-to-end online marketplace for Central and State Government Ministries/Departments, Central & State Public Sector Undertakings, autonomous institutions and local bodies, for procurement of common use goods & services.

Effectively, this portal will replace the Directorate General of Supplies and Disposal. DGS&D shall be wound up and cease its functions by October 31.

In case it is not possible to wind up DGS&D by October 31, the Department of Commerce may extend the date of closure with proper justification, latest up to March 31, 2018.

The Cabinet started a not for profit company, to operate government e-marketplace (GeM) portal to procure goods and services by all government departments and PSUs.

The move is aimed at making GeM an autonomous body, which would help in taking all the decisions including those related to finance at a faster pace.

In 2016, GoI launched GeM for online purchase of goods and services to bring in more transparency and streamlining government procurement, estimated at INR 10,000 crore a year.

Currently, over 9,000 products from 250 categories, including computers, stationery and several services, are registered by different vendors on the portal.

Post your comment / Share knowledge

Enter the code shown above:
(Note: If you cannot read the numbers in the above image, reload the page to generate a new one.)