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Question

Q. Consider the following in reference to Public Procurement policy

Which of the statements given above is/are correct?


A
1 only
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B
2 only
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C
Both 1 and 2
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D
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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