Finance Ministry Doubles Metrics For General Financial Rules

The Finance Ministry implemented amendments in the General Financial Rules, 2017 where it doubled the amount of money given as the metric, under which the rules would be applicable for functions such as discretionary repair works, non-government services and Government e-Marketplace.

Some highlights included execution of repair works under rules 133 (1), 133 (2) and 133 (3), where the monetary threshold for ministries and departments to execute repair works either directly or indirectly has been increased from Rs 30 lakh to Rs 60 lakh.

The Government e-Marketplace portal facilitates direct online purchases based on specified financial limits, now up to Rs 25,000, up to Rs 50,000 and above Rs 50,000 for automobiles without any limit

Rule 154 now allows purchases up to Rs 50,000 without inviting quotations or bids, based on certification of satisfaction by the competent authority.

Rule 155 mandates bids through online bidding or reverse auction tools on GeM for purchases above Rs 10,00,000. And Rule 162 permits Limited Tender Enquiry for procurement up to Rs 50 lakh, involving direct bidding document distribution to registered suppliers and publication on GeM, GeM-Central Public Procurement Portal, and respective websites.

Rule 201 outlines the invitation of bids based on estimated values: up to Rs 50 lakh through limited tender enquiry and above Rs 50 lakh via advertisements on GeM, GeM-CPPP, and organisation websites.

Rule 218 has revised disposal methods for surplus, obsolete, or unserviceable goods where goods above Rs 4 lakh must be disposed of through advertised tender or public auction, while goods below Rs 4 lakh require determination by a competent authority based on disposal necessity.