In order to check corruption and ensure transparency in public procurement, the Government on 14/5/2012 introduced a Bill in the Lok Sabha under which a public servant can be imprisoned for up to five years for accepting bribe and vitiating the bidding process.
The Public Procurement Bill 2012, introduced by Finance Minister Pranab Mukherjee, seeks to regulate award of government contracts of over Rs 50 lakh with the object of ensuring "transparency, accountability and probity".
To view the Public Procurement Bill 2012 introduced in the Parliament Click here.
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