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New National Competition Policy Under Consideration

Formulation of a National Competition Policy is under consideration of the Government. Giving this information in written reply to a question in the Lok Sabha, Minister of Corporate Affairs, Shri Sachin Pilot, said that the Government has introduced a Public Procurement Bill, 2012 in Lok Sabha in May, 2012. The Bill seeks to regulate public procurement by all Ministries/Departments of the Central Government, Central Public Sector Enterprises (CPSEs), autonomous and statutory bodies controlled by the Central Government and other procuring entities with the objectives of ensuring transparency, accountability and probity in the procurement process, fair and equitable treatment of bidders, promoting competition, enhancing efficiency and economy, maintaining integrity and public confidence in the public procurement process. The Bill at present is under examination by the Parliamentary Standing Committee on Finance.

Tags: Central GovernmentCompanies ActCorporate Affairs MinistryGovernment ProcurementLokSabhaNational Competition PolicySachin PilotThe Bill

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