RBI ESINABARD ESISEBI
In one line
Public Sector Enterprises (PSUs) are businesses in India that are owned or controlled by the government, either partially or wholly.
- Decline in Procurement from MSEs
- 43% decrease in procurement from micro and small enterprises (MSEs) by central public sector enterprises (CPSEs) in FY24.
- Reason for decline: Delays due to elections and a budget presentation delay (July 2024) led to a six-month loss in procurement time.
- What is Procurement?
- Procurement is the action of pure buying that involves sourcing, purchasing, receiving, and ultimately inspecting all the goods and sorts of services necessary for a business to run its operations. This includes basic material to all manner of things in the office such as office supplies and software.
- Public Procurement Policy for MSEs
- The policy, amended in 2012, increased the minimum annual procurement from MSEs from 20% to 25%.
- At least 3% of the 25% procurement should come from women-owned MSEs and 4% from SC/ST entrepreneurs.
- Procurement via GeM Portal
- The Government e-Marketplace (GeM) is a digital platform for the online procurement of goods and services by various government departments, organizations, and public sector units (PSUs)
