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Question

Which of the following statements is/are correct with reference to the Finance Ministry?

A In India, government procurement is estimated to constitute about 30% of GDP with the central government accounting for a major chunk.
B The Finance Ministry (Expenditure Department) has recently drafted a model tender document for public procurement by all central government departments.
C Both A & B
D None of these
Answer & Explanation
Option: Both A & B

Explanation:

The Union Finance Ministry has drafted a model tender document for public procurement by all central government departments, in a bid to standardise the language and clauses included, and avoid contractual disputes. In India, government procurement is estimated to constitute about 30% of GDP with the central government accounting for a major chunk.
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