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Publish Date : 16-Sep-2015

Governments are currently diverting a large share of taxpayers' money for public procurement (PP), which includes buying goods and services ranging from the construction of roads to acquiring textbooks. Ministries like defense, railways, and telecommunications assign nearly half their budgets to PP.

However, how can they ensure they are receiving good value for money, and that the companies bidding for the project or tender have not transgressed the principles of competitive bidding The CAG of India audit studies show the vast prevalence of cartelisation (bid-rigging) in PP.

The price paid by the public administration bodies for goods or services is artificially increased, because of bid-rigging. The affect of bid-rigging on public expenditure can indeed be devastating.

As a matter of fact, in his Budget speech, Finance Minister Arun Jaitley noted that the malfeasance in PP can be contained by having an institutional structure. This would call for the enforcement of competition laws and the education of PP agencies to help them design effective procurement processes.

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