Sunday 16th June 2019

Rs. 24226.51 Crs. Goods & Services Procurement from MSMEs by PSEs for 17-18

Jan 7th, 2019 7:18 pm | By | Category: LATEST NEWS

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(THE NEWSMAN OF INDIA)
Annual procurement of goods & services from Micro, Small and Medium Enterprises (MSME) by the Central Public Sector Enterprise (CPSE) during 2017-18 stands at Rs. 24226.51 crore in which the share of procurement from MSEs owned by SC/ST Entrepreneur is Rs. 442.52 crore.

The Public Procurement Policy for Micro and Small Enterprises (MSME) has mandated that every Central Ministry/Department/PSU shall set an annual goal of minimum 20 per cent of the total annual purchases from the products or services produced or rendered by MSEs. However, the government recently revised the order making it compulsory for all CPSEs to procure 25% from MSMEs instead of 20% of their total purchases. Out of the total annual procurement from Micro and Small Enterprises, 3 per cent from within the target shall be earmarked for procurement from Micro and Small Enterprises owned by women.A sub-target of 4% out of annual procurement is earmarked for procurement from MSEs owned by SC/ST entrepreneurs.

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