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Rajnish
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Rajnish
Asked: November 25, 20202020-11-25T16:32:32+05:30 2020-11-25T16:32:32+05:30In: UPSC PRELIMS

What is the meaning of Public Procurement?

What is the meaning of Public Procurement?

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    1. Rajveer Thakur

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      rajveer With Love
      2020-11-29T07:44:34+05:30Added an answer on November 29, 2020 at 7:44 am

      The process of purchasing goods, services or works from the private sector by the public sector (Government or state owned bodies) is known as Public procurement.

      More about Public Procurement:

      • Its also a basic, vital part of democratic governance, poverty reduction and sustainable development.
      • The scale of public spending grows as the economy expands, and public procurement is one of the most important activity in government operations.
      • Public procurement will also affect many fields and change the nation’s way of doing things.

       

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