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CPSE Procurement From MSEs Down 43% To ₹773.39 Cr In FY24
Business Standard
|January 01, 2025
Procurement by central public-sector enterprises (CPSEs) from micro and small enterprises (MSEs) has declined by a sharp 43 per cent in 2023-24 (FY24), totalling ₹773.39 crore, from 188 CPSEs, down from ₹1,369.45 crore during FY23, according to the latest edition of the Public Enterprises Survey, released by the Ministry of Finance.
Anil Bhardwaj, secretary general, Federation of Indian Micro and Small & Medium Enterprises (FISME), stated: "One of the main reasons is that public procurement decreased due to delays caused by elections. The Budget could only be presented in July, resulting in a loss of six months. That's the main reason."
Procurement in FY24 was ₹53,0151.48 crore, of which that from MSEs owned by entrepreneurs belonging to Scheduled Castes (SC) and Scheduled Tribes (ST) amounted to ₹1,689.59 crore, an increase from ₹1,616.01 crore in FY23.
Additionally, annual procurement in FY24 from MSEs owned by women was ₹3,252.66 crore, up from ₹2,403.46 crore in FY23.
This story is from the January 01, 2025 edition of Business Standard.
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