How has the Finance Ministry supported scientific research equipment procurement in India
Explore the recent changes made by the Finance Ministry to ease procurement rules for scientific research equipment.
The Finance Ministry in India has supported scientific research equipment procurement by introducing recent changes to ease procurement rules. Here are some of the key points to note:
- Introducing a new category of procurement for 'Buy (Global - Manufacture in India)' to promote local manufacturing of scientific equipment.
- Permission for advance payment of up to 30% of the order value to facilitate quicker procurement of costly scientific instruments.
- Increasing the threshold limit for single-tender procurement from Rs. 2 crore to Rs. 5 crore for faster procurement process.
- Streamlining the procurement process by reducing bureaucratic hurdles and promoting transparency in equipment procurement.
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9 months ago