Q. Consider the following in reference to Public Procurement policy

Which of the statements given above is/are correct?

1 only

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2 only

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Both 1 and 2

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Neither 1 nor 2

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Solution

The correct option is D Neither 1 nor 2
Explanation:

Statement 1 is incorrect: Public Procurement Policy has been notified under the MSMED Act, 2006 for the promotion and development of Micro and Small Enterprises by supporting them in the marketing of products produced and services rendered by them. According to this, every Central Ministry/Department/PSU shall set an annual goal of a minimum of 25 percent of the total annual purchases from the products or services produced or rendered by MSEs.

Statement 2 is incorrect: In order to further incentivize the production from MSE’s and create dedicated markets for their goods, about 358 items are reserved for exclusive procurement from MSEs. The Ministry /Department/CPSUs are also encouraged to conduct Vendor Development Programmes or Buyer-Seller Meets for MSEs especially for SC/ST entrepreneurs.

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Similar questions

Consider the following statements regarding the procurement of food-grains:

1. Government of India follows a procurement target rather than an open-ended procurement policy.

2. Government of India announces minimum support price only for cereals.

3. NAFED is the nodal procurement agency for Oilseeds and pulses, apart from the Cotton Corporation of India.

Which of the statements given above is/are correct?

59. Consider the following statements

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Q. A firm is required to procure three items (P, Q and R). The prices quoted for these items (in Rs.) by suppliers

S_{1}, S_{2} and S_{3}

are given in the table. The management policy requires that each item has to be supplied by only one supplier and one supplier supplies only one item. The minimum total cost (in Rs.) of procurement to the firm is

Item	Supplier
	$S_{1}$	$S_{2}$	$S_{3}$
P	110	120	130
Q	115	140	140
R	125	145	165

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Q. Consider the following in reference to Public Procurement policy Which of the statements given above is/are correct?

Q. Consider the following in reference to Public Procurement policy

Which of the statements given above is/are correct?