: Govt makes mandatory for its department to buy 20 per cent textiles from KVIC #FinanceIndia #StockMarketNEWS Govt makes mandatory for its department to buy 20 per cent textiles from KVIC New Delhi,

@StockMarketNEWS Thu 12 Mar, 2020

Posted in: #FinanceIndia #StockMarketNEWS

Govt makes mandatory for its department to buy 20 per cent textiles from KVIC #FinanceIndia #StockMarketNEWS
Govt makes mandatory for its department to buy 20 per cent textiles from KVIC New Delhi, Mar 2 (KNN) The Finance Ministry has asked all government departments to mandatorily buy at least 20 per cent of their textiles requirement from Khadi Village and Industries Commission (KVIC) handloom clusters and registered weavers.

In order to boost the khadi industry, the Ministry of Finance has amended Rule 153 of General Financial Rules (GFR) 2017.

Earlier, the government had reserved all items of hand spun and hand-woven textiles (khadi goods) for exclusive purchase from KVIC.

As per the amended rule, ''Of all items of textiles required by central government departments, it shall be mandatory to make procurement of at least 20 per cent from amongst items of handloom origin, for exclusive purchase from KVIC and/ or Handloom Clusters such as Co-Operative Societies, Self Help Group (SHG) Federations, Joint Liability Group (JLG), Producer. Companies (PC), Corporations etc, ‘‘said a recent circular from the Ministry of Finance, Department of Expenditure Procurement Policy Division (PPD).

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