Global Tenders up to Rs 200 crore not to be allowed in government procurement: Finance Ministry

The government has decided that Global tenders will be disallowed in Government procurement tenders up to Rs 200 crore. Finance Minister Nirmala Sitharaman reviewed the implementation of Aatma Nirbhar Bharat Package pertaining to Ministries of Finance and Corporate Affairs. In the review, it was decided that no Global Tender Enquiry (GTE) shall be invited for tenders' up to Rs 200 crore unless prior approval is obtained from Cabinet Secretariat.

Giving relief to contractors, it was announced that all central agencies like Railways, Ministry of Road Transport and Highways and CPWD will give an extension of up to 6 months for completion of contractual obligations, including in respect of EPC and concession agreements.

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In its efforts to support state governments, the Finance Minister announced that the Centre has decided to accede to the request and increase borrowing limits of States from 3 per cent to 5 per cent for 2020-21 only given the unprecedented situation. This will give states extra resources of Rs 4,28,000 crore. Government has also announced Rs 3 lakh crore Collateral-free Automatic Loans for Businesses, including MSMEs.

Out of Rs 30,000 crore Additional Emergency Working Capital funding for farmers through NABARD, Rs 24,877 crore rupees has already been disbursed. Between April 8, 2020, and June 30, 2020, the Central Board of Direct Taxes (CBDT) has issued refunds in more than 20.44 lakh cases amounting to more than Rs 62,361 crore.

The Ministry of Corporate Affairs is finalising a special insolvency resolution to provide relief to the MSMEs and the same would be notified soon. Cabinet has also recently approved a Rs 30,000 crore Special Liquidity scheme for NBFCs. All these are part of Prime Minister Narendra Modi's May 12, 2020, announcement about the Special economic and comprehensive package of Rs 20 lakh crores for Atma Nirbhar Bharat.