Public Procurement Law Essay

NEED FOR PUBLIC PROCUREMENT LAW

INTRODUCTION

Public Procurement Law governs the planning of public procurement, manner and procedures, and the requirements of public procurement. There are certain laws that govern the centralization of public procurement and ensure the protection of rights of people in public procurement processes. Thus public procurement as a law has its importance in general protection of people and also ensures financial safety in the country.

OBJECTIVES:

The objective of this assignment is to understand:

1. What Public Procurement is.

2. Public Procurement in India.

3. Need for Public Procurement.

PUBLIC PROCUREMENT— MEANING

Public procurement is a process where goods, services or any other work for a public authority

The important sectors like the defence, telecommunication, railways, health, etc. have also allocated a noteworthy proportion of their budget to public procurement. Studies have shown that the public procurement system in India is responsible for roughly 30% of the county’s Gross Domestic Product. In this light, the significance of conducting an effective procurement system must never be understated. Though the world we live in is far from ideal, the necessities of such a world must be proper public procurement which accounts for accession of goods and services at a moderate rate, in the best possible quantity and quality, at the necessary time and place and from just source. This form of procurement in an ideal world would be highly beneficial to the people in that

There are many bodies or agencies governing the process of public procurement. The Indian Constitution has also framed rules regarding the procurement of goods and services and contract management. Bodies like the Comptroller and Auditor General (CAG), Central Vigilance Commission (CVC), the Central Bureau of Investigation are major bodies governing public procurement

CONCLUSION

Public Procurement Laws are present to regulate the purchasing done by public sector bodies and other utility sector bodies for goods, work or service. Though the rules may seem daunting at times following the given principles will assure better working of this sector.

• Transparency and openness: be clear and open about what you are doing and how you are going to go ahead with it;

• Equal treatment of tenders: every tender involved must be treated equally and given a fair chance of winning;

• Consistency in the working of the