India's New Digital Portal Attempts to Migrate all Government Purchases Online
Purchases of all state governments, public sector units, utilities, defence and railways are expected to be moved to the portal which was set up by the National e-governance division. (Image: Reuters)
Prime Minister Narendra Modi plans to move all government purchases to an Amazon-like online portal, which has already had transactions worth Rs 39 crore since it began in August.
Purchases of all state governments, public sector units, utilities, defence and railways are expected to be moved to the portal which was set up by the National e-governance division, according to a report by Bloomberg. Once all government entities purchases are online the platform is expected to support trades worth 20 percent of India’s $2 Trillion GDP.
The e-market, which is one of the centrepieces of Digital India, is designed to leave an electronic trail that will increase transparency and accountability. The Indian government currently uses a tendering system for purchases, a system which is open to corruption and price fixing because of the predominance of local suppliers.
The new system allows vendors across India to bid for any government purchase. The Finance Ministry changed rules to allow payments within 10 days of the purchase, which frees suppliers from the average wait of about two months.
Recommended For You
- India vs Australia: Heaviest Defeats for India at Home Since 1987
- OnePlus 5 to Launch in April: All You Need to Know of the Waterproof Phone
- News18 Movie Awards 2017: Alia Is Ahead of Sonam in Best Actress Category
- Vijay Hazare Trophy: MS Dhoni Scores 43 But Jharkhand Loses to Karnataka
- News18 Movie Awards 2017: Amit Trivedi Gives Competition to Pritam in Best Music Category