gk today magazine subscription
gk today magazine subscription Published this article page no 138 Presently the General Financial Rules (2017) and the Ministry of Finance Procurement Manuals act as general guidelines to be followed by all agencies with freedom for agencies to have its own procurement rules complying with general rules. ○ E.g. the Ministry of Defence Railways etc. with almost 50% of their respective budget spent on public procurement have their own procurement guidelines such as Defence Acquisition Procedure 2020. Why was a need felt to tweak the framework?Absence of a comprehensive law With large sums of taxpayers or country resources spent on them competitive transparent and efficient public procurement and project management is vital for ensuring prudent use of public finance and good governance. But despite such large sums of money and vital role India lacks a comprehensive law on activities like Public Procurement.Complex regulatory framework Threetiers of governance with diverse ministries and objectives large number of statutory bodies autonomous institutions PSUs etc. with different needs.Growing share of public procurement Competition Commission of India estimates public procurement in India to be 30% of the GDP (in 2013).Adherence to Least Cost Selection (or L1) method While this method may hold good for procurement of routine works goods and nonconsulting services but in high impact and technologically complex procurements it leads to suboptimal delivery nonperformances higher life cycle cost delays and arbitrations. ○ E.g. Quality Council of India study of highway development sector highlighted that the L1 method fails to consider quality and performance. In this context the new guidelines work on aligning all stakeholders interests for successful project execution within specified time cost and quality for faster efficient and transparent project execution and empowerment of executing agencies for quicker and efficient decisionmaking in public interest. Key Provisions under latest Guidelines Prepared after consultation with stakeholders the new guidelines are released as general instructions under the General Financial Rules (GFR) 2017 with main guidelines asProcedural Clarity via. Clear expression of Technical and Financial eligibility criteria for bidders Engineering Procurement and Construction (EPC) contracts to specify broad technical specifications and key output parameters Defining the role of Project Management Consultant (PMC) clearly in the contracts etc gk today magazine subscription buy.
No comments:
Post a Comment