US Edition
Centre Raises Financial Threshold for Procurement of Scientific Equipment, Consumables
- On June 5 and 7, the Indian government raised financial limits for procuring scientific equipment and consumables at public research institutes across the country.
- The changes followed long-standing demands to ease research procurement by removing quotation requirements for purchases up to Rs 2 lakh and increasing purchase committee limits to Rs 25 lakh.
- The simplified General Financial Rules also allow Vice-Chancellors and directors to procure equipment up to Rs 2 lakh without quotations and approve global tenders up to Rs 200 crore.
- Union Minister Jitendra Singh called this a "landmark step to promote the ease of doing research," adding it will reduce delays and empower research institutions to innovate faster.
- These amendments grant greater autonomy to scientific organizations, including DRDO and ICMR, and aim to accelerate research, innovation, and technology development nationally.
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Boost for govt research institutes as Centre eases procurement rules for scientific equipment
Union Minister of Science & Technology Jitendra Singh said the simplified general financial rules will promote ease of doing research & empower institutes to innovate faster.
·New Delhi, India
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Govt Eases Finance Rules For Procuring Scientific Equipment, Consumables To Boost Research
Applicable to Central govt ministries, departments, for autonomous bodies with their own approved financial norms, the GFRs cover aspects like budgeting, procurement, expenditure, and accounting.
·India
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