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Government purchases to be made more transparent

Delhi,Business/Economy, Thu, 12 Apr 2012 IANS

New Delhi, April 12 (IANS) The cabinet Thursday approved a bill to ensure greater transparency and accountability in government purchases.


The Public Procurement Bill will be tabled with the budget session of parliament resumes April 24, Human Resource Development Minister Kapil Sibal told reporters after a cabinet meeting chaired by Prime Minister Manmohan Singh.


"The bill would create a statutory framework for public procurement which will provide greater accountability, transparency and enforceability of the regulatory framework," Sibal added.


He said the bill seeks to regulate procurement by promoting competition, enhancing efficiency and economy, safeguarding integrity in the procurement process and enhancing public confidence in public procurement.


The bill builds on national and international experience and best practices, an official statement said.


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