GeM reaches all-time high of over Rs 15,000 crore for Financial Year 2021-22

Tags: National Economy/Finance

The purchase orders by the Defence Ministry through the Government e-Market (GeM) portal have reached an all-time high of Rs 15,047.98 crore for the financial year 2021-22.

• This is a jump of over 250 per cent as compared to the previous financial year.

• Government e-Market (GeM) portal

• GeM is an acronym for One Stop Government e-Market Place hosted by DGS&D where common user goods and services can be procured.

• GeM is a dynamic, self-sustaining and user-friendly portal for procurement by government officials.

• Public procurement is a very important part of government activity and reform of public procurement is one of the top priorities of the present government.

• The Government e-Marketplace originated in January 2016 based on the recommendations of two Groups of Secretaries.

• Apart from reforms in DGS&D, they recommended setting up of a dedicated e-market for various goods and services bought or sold by the Government/PSUs.

• Subsequently, the Finance Minister in his budget speech for the financial year 2016-17 announced the setting up of a technology driven platform to facilitate procurement of goods and services by various ministries and agencies of the government.

• DGS&D with technical support from the National e-Governance Division (Ministry of Electronics & Information Technology) has developed a GeM portal for procurement of both products and services.

• The portal was launched on 9 August 2016 by the Minister of Commerce and Industry.