The Union Cabinet has given its approval for expanding the mandate of <\/span>Government e-Marketplace(<\/span>GeM) to allow procurement by Cooperatives as buyers on GeM.<\/span><\/p>\n Launched by: <\/b>Ministry of Commerce and Industry in 2016.<\/span><\/p>\n Aim: <\/b>To create an open and transparent procurement platform for Government buyers.\u00a0<\/span><\/p>\n At present, <\/b>the platform is open for procurement by all government buyers: central and state ministries, departments, public sector enterprises, autonomous institutions, local bodies, etc.\u00a0<\/span><\/p>\n However, <\/span>GeM is not available for use by private sector buyer<\/b>s. But suppliers (sellers) can be from across all segments such as government or private.<\/span><\/p>\n The government has now allowed cooperatives also to sell products on the Government<\/span> e-Marketplace(<\/span>GeM) platform.<\/span><\/p>\n The cooperatives may however be charged a transaction fee to cover the incremental costs.<\/span><\/p>\n Allowing Cooperative Societies to register on GeM as Buyers would help Cooperatives in getting competitive prices through an open and transparent process.<\/span><\/p>\n Source: <\/b>The post is based on the article<\/span> \u201c<\/b>Cabinet approves Expanding the mandate of Government e Marketplace – Special Purpose Vehicle (GeM – SPV) to allow procurement by Cooperatives as Buyers<\/b>\u201d <\/b>published in<\/span> PIB <\/b>on 1st June 2022.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":" What is the News? The Union Cabinet has given its approval for expanding the mandate of Government e-Marketplace(GeM) to allow procurement by Cooperatives as buyers on GeM. What is the Government e-Marketplace(GeM)? Launched by: Ministry of Commerce and Industry in 2016. Aim: To create an open and transparent procurement platform for Government buyers.\u00a0 At present,… Continue reading Cabinet approves Expanding the mandate of Government e Marketplace – Special Purpose Vehicle (GeM – SPV) to allow procurement by Cooperatives as Buyers<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[3590],"class_list":["post-187874","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","tag-pib","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1703077929},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/187874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=187874"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/187874\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=187874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=187874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=187874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What is the Government<\/b> e-Marketplace(<\/b>GeM)?<\/b><\/h5>\n
What is the recent decision taken by the Government?<\/b>\u00a0<\/span><\/h5>\n
What is the significance of this decision?<\/b><\/h5>\n