Sign In
Learn bits
Polity & Governance
Mahesh

11/08/22 00:00 AM IST

Cabinet allows procurement by cooperatives through GeM portal

In News 
  • The government  announced to expand the mandate of Government e-Marketplace by allowing procurement by cooperatives.
  • The move will help over 8.54 lakh registered cooperatives, like Amul and IFFCO, and their 27 crore members, as they would get products at competitive rates from the GeM portal.
About Cooperatives 
  • It is a voluntary association of individuals having common needs who join hands for common economic interests.
  • Based on the principle of: Voluntary and open membership, Autonomy to members, Aimed at community concerns.
  • A separate ‘Ministry of Co-operation’ has been created by the Central Government for realizing the vision of ‘Sahkar se Samriddhi’ (Prosperity through Cooperation)
  • Under the ‘state list’ of the 7th schedule
  • Forming a cooperative is a fundamental right under Art19(1)(c) and states must promote cooperatives (Art 43-B)
  • 97th A Act 2011 added a new part PartIX-B regarding cooperative working in India.
  • The first credit cooperative society was formed in Banking in 1903. Cooperative got a legal status with the enactment of the Cooperative Credit Societies Act, 1904.
Significance 
  • The GeM will provide a dedicated onboarding process for cooperatives, technical infrastructure to support additional users on existing portals, as well as assistance to cooperatives for onboarding and transaction journey via available contact centres, in-field training and other support services.
  • The GeM will initiate suitable actions, including the creation of necessary features and functionalities on the GeM portal, up-gradation of infrastructure, strengthening of the helpdesk and training ecosystem and onboarding of cooperatives.
About GeM 
  • GeM is a one-stop National Public Procurement Portal to facilitate online procurement of common use Goods & Services required by various Central and State Government Departments/Organizations/Public Sector Undertakings (PSUs).
  • The procurement of goods and services by Ministries and the Central Public Sector Enterprises (CPSEs) is mandatory for goods and services available on GeM.
  • It also provides the tools of e-bidding and reverse e-auction to facilitate the government users achieve the best value for their money.
  • At present, GeM has more than 30 lakh products, over Rs. 10 lakh crore worth of transactions have happened so far at the portal.
Source- Business Standard 

More Related Current Affairs View All

14 Aug

ABC of Sterilisation

'The Supreme Court has directed Delhi, Noida, Gurgaon, and Ghaziabad authorities to urgently round up and shift stray dogs to shelters, stressing the need to protect children from

Read More

14 Aug

Post and pre-matric scholarships

'The  Union government is considering revising the parental income limit for eligibility in availing post and pre-matric scholarships administered to students from marginalise

Read More

13 Aug

Working of satellite internet

'Satellite internet is revolutionizing how we connect, extending high-speed access to virtually every corner of the globe, regardless of location.' Imagine getting online from t

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps