Government e Marketplace has closed this financial year with ₹ 4 lakh crore in Gross Merchandise value (GMV) – doubling its GMV clocked at the end of previous Fiscal Year. This testifies to the portal’s unique digital capabilities and functionalities that have facilitated greater efficiency, transparency, and seamlessness in public procurement.

The procurement of Services through the GeM portal has proved to be a pivotal force behind this staggering GMV. Nearly 50% of this GMV has been attributed to the procurement of Services, displaying a remarkable surge of 205% in terms of Services procured on GeM last FY. By creating access to market, GeM has been exceptionally successful in breaking down the cartel of established and renowned service providers, paving way for small domestic entrepreneurs to participate in government tenders from anywhere at any time. The vast repository of Services on GeM has enabled States to procure innovative solutions that cater to all their dynamic needs.

Increased engagement from States has also mobilized this phenomenal growth in GMV. In this FY, highest procuring State like Gujarat, Uttar Pradesh, and Delhi, have helped States well surpass the earmarked public procurement target of this year. The contribution made by central entities including Ministries and CPSEs has also greatly spurred the GMV. These Government organization have contributed to nearly 85 % of this ₹ 4 lakh crore milestone. Notably, Ministry of Coal, Ministry of Power and Ministry of Petroleum & Natural Gas and their subsidiaries have emerged as the highest procuring entities at the central level.

GeM’s vast network of 1.5 lakh+ Government buyers and 21 lakh sellers and service providers have been made this incredible feat possible. Through comprehensive onboarding of last-mile buyers and sellers GeM has fostered engagement at the grassroots level. By integrating 89421 Panchayats and 760+ Cooperatives withing its procurement Ecosystem, GeM has facilitated sustainable procurement while ensuring optimization in public spending at the very last level of administration.

“Through its inclusive initiatives like ‘Vocal for Local’, ‘One District, One Product’, ‘Startup Runway’, ‘Womaniya’ etc., GeM has provided a level-playing field for domestic businesses to grow and thrive. Of the ₹ 4 lakh crore GMV, orders nearly 50 % have been awarded to marginalized seller segment such as Artisans, weavers, craftsmen, MSEs, especially women-led and SC/STs, SHGs, FPOs and Startups. GeM’s collaboration with 5.2 lakh+ CSCs and 1.5 lakh+ India Post offices has served a phenomenal force in maximising outreach and capacity-building at micro levels. Through supportive handholding at every step to help diverse sellers and service providers grow their business on GeM, the platform has given impetus to hyper local economies across regions in India, resulting in job creation and greater incomes”, said Shri PK Singh, CEO, GeM.

Earlier this financial year, GeM tide up with a leading tech firm, Tata Consultancy Services, with a vision to create a more versatile and secure  technological Infrastructure by adapting new-age technologies to further enhance user experience, improve transparency, and induce greater inclusivity. The objective is to revamp, re-design and build a new modern solution leveraging new technologies, while maintaining the current platform. Its deep configurability will ease the onboarding of diverse buyer organizations and Sellers/ Service Providers with dynamic needs.

Offering more than 12070+ product categories and 320+ service categories, GeM has become a one-stop shop for seamless public procurement, thereby opening up opportunities for sellers and service providers across the nation to showcase their Products and Services and to participate in government tenders in most transparent manner, promising them ease of doing business.

The portal started its trailblazing journey to ₹ 4 lakh crore-landmark with ₹ 422 crore in GMV in 2016. Its achievements in an astonishing short period of have propelled it to ascend one of the foremost public procurement platforms globally. Committed to enhancing efficiency, transparency and inclusivity, GeM is disrupting the public procurement domain.

Prime Minister Shri Narendra Modi and H.E. Tshering Tobgay, Prime Minister of Bhutan, inaugurated the Gyaltsuen Jetsun Pema Wangchuck Mother and Child Hospital, a state-of-the-art hospital, built with the assistance of the Government of India in Thimphu.

The Government of India has supported the development of the 150 – bedded Gyaltsuen Jetsun Pema Wangchuck Mother and Child Hospital in two phases. The Phase one of the Hospital was constructed at a cost of Rs. 22 Crores and is operational since 2019. The construction of the second phase was taken up in 2019, as part of the 12th Five Year Plan at a cost of Rs. 119 Crores, and was completed now.

The newly constructed Hospital would add value to the quality of mother and child health services in Bhutan. The new facility will house state-of-the-art facilities for Pediatrics, Gynecology and Obstetrics, Anesthesiology, Operation Theatre, Neonatal Intensive Care and Pediatric Intensive Care. ​

The Gyaltsuen Jetsun Pema Wangchuck Mother and Child Hospital stands as a shining example of India-Bhutan partnership in health-care.

Prime Minister Shri Narendra Modi met with His Majesty the King of Bhutan, Jigme Khesar Namgyel Wangchuck in Thimphu today. Prime Minister thanked His Majesty for the exceptional public welcome accorded to him, with people greeting him all along the journey from Paro to Thimphu.

Prime Minister and His Majesty the King of Bhutan expressed deep satisfaction at the close and unique India-Bhutan friendship. Prime Minister conveyed his appreciation for the guiding vision provided by the successive Druk Gyalpos in shaping close ties of friendship and cooperation between the two countries.

The meeting provided an opportunity to review the entire gamut of bilateral cooperation. Recalling that Bharat for Bhutan and Bhutan for Bharat was an abiding reality, the two leaders discussed ways to further the transformative partnership. They explored initiatives to expand bilateral collaboration in the fields of energy, development cooperation, youth, education, entrepreneurship and skill development. The two leaders also discussed progress in connectivity and investment proposals including in the context of the Gelephu Mindfulness City project.

India and Bhutan enjoy unique ties of friendship and cooperation, which are characterized by mutual trust and understanding.

Prime Minister Shri Narendra Modi was conferred the Order of the Druk Gyalpo, Bhutan’s highest civilian decoration, by His Majesty the King of Bhutan in a public ceremony at the Tendrelthang, Thimphu. Prime Minister Modi is the first foreign leader to be given this prestigious award.

His Majesty the King of Bhutan had announced the conferment of the award during Bhutan’s 114th National Day celebrations held at the Tashichhodzong, Thimphu in December 2021. The award recognizes Prime Minister Modi’s contribution to strengthening India-Bhutan friendship and his people centric leadership.The citation added that the award also honours India’s rise as a global power under his leadership, and celebrates Bhutan’s special bond with India. Prime Minister Modi’s leadership has set India on the path of transformation, and that India’s moral authority and global influence have grown.

Prime Minister underlined that the award was an honour bestowed on the 1.4 billion people of Bharat and a testament to the special and unique ties between the two countries.

As per ranking and precedence established, the Order of the Druk Gyalpo was instituted as the decoration for lifetime achievement and is the pinnacle of the honor system in Bhutan, taking precedence over all orders, decorations and medals.

Prime Minister Shri Narendra Modi met H.E. Tshering Tobgay, Prime Minister of Bhutan in Thimphu today over a working lunch hosted in his honour. Prime Minister thanked Prime Minister Tobgay for the exceptional public welcome accorded to him, with people greeting him all along the journey from Paro to Thimphu.

The two leaders held discussions on various aspects of the multi- faceted bilateral relations and forged an understanding to further enhance cooperation in sectors such as renewable energy, agriculture, youth exchange, environment and forestry, and tourism. India and Bhutan enjoy long-standing and exceptional ties characterized by utmost trust, goodwill, and mutual understanding at all levels.

Ahead of the meeting, Prime Minister Modi and Prime Minister of Bhutan witnessed exchange of several MoUs/Agreements on energy, trade, digital connectivity, space, agriculture, youth connect among others.

Prime Minister Shri Narendra Modi arrived in Paro today on a State Visit to Bhutan from 22-23 March 2024. The visit is in keeping with the tradition of regular high-level exchanges between India and Bhutan and the Government’s emphasis on its Neighbourhood First Policy.

Prime Minister was warmly received by H.E. Tshering Tobgay, Prime Minister of Bhutan at Paro airport and accorded ceremonial welcome.

During the visit, Prime Minister will receive audience with His Majesty Jigme Khesar Namgyel Wangchuck, the King of Bhutan and His Majesty Jigme Singye Wangchuck, the Fourth King of Bhutan. Prime Minister will also hold talks with the Prime Minister of Bhutan Tshering Tobgay.

Prime Minister will inaugurate the Gyaltsuen Jetsun Pema Mother and Child Hospital in Thimphu, a state-of-the-art hospital, built with the assistance of the Government of India in Thimphu.

The Prime Minister, Shri Narendra Modi today addressed the Summit for Democracy via video conferencing.  Calling Summit for Democracy a crucial platform for democracies worldwide to exchange experiences and learn from each other, the Prime Minister reiterated India’s deep-rooted commitment to democracy, stating, “India has an ancient and unbroken culture of democracy. It has been the lifeblood of Indian civilization.” He further asserted, “Consensus-building, open dialogue, and free discussion have resonated throughout India’s history. That is why my fellow citizens consider India to be the Mother of Democracy.”

Prime Minister Modi stated, “Today, India is not only fulfilling the aspirations of its 1.4 billion people but is also providing hope to the world that democracy delivers and empowers.” He cited instances of India’s contributions to global democracy, including legislative measures for women’s representation, poverty alleviation efforts, and international assistance during the COVID-19 pandemic.

Prime Minister Modi called for collaborative efforts among democratic nations to address challenges facing democracy worldwide. He emphasized the need for inclusivity, fairness, and participative decision-making in international systems and institutions.

“In the era of turmoil and transitions, democracy faces many challenges. This requires us to work together,” Prime Minister Modi remarked. “India stands ready to share its experience with all fellow democracies in this pursuit.”

The Prime Minister, Shri Narendra Modi inaugurated the Start-up Mahakumbh at Bharat Mandapam, New Delhi today. He also took a walkthrough of the exhibition showcased on the occasion.

Addressing the gathering, the Prime Minister highlighted the importance of Start-up Mahakumbh and emphasized the country’s roadmap of working to become a Viksit Bharat by 2047. The Prime Minister highlighted India’s making a mark in the IT and software sector in the last few decades and underlined the emerging trends of innovation and start-up culture. Therefore, the Prime Minister said, the presence of people from the world of start-ups underlines the importance of today’s occasion. Dwelling on the success of start-ups in the country, the Prime Minister drew attention to the genius element that makes them successful. He acknowledged the presence of investors, incubators, academicians, researchers, industry members, and present and future entrepreneurs and said, “This is indeed a Mahakumbh in its truest form creating an unprecedented energy and vibe.” The Prime Minister mentioned experiencing the same vibe when he was visiting the sports and exhibition stalls where people showcased their innovations with great pride. “Any Indian visiting the Start-up Mahakumbh will witness the unicorns and decacorns of the future”, PM Modi said.

The Prime Minister expressed satisfaction over the growth of the startup ecosystem in the country due to the right policies. He recalled the initial reluctance and indifference towards the concept of startup in society. Innovative ideas found a platform over a period of time under Startup India, he said.  He commented on the development of an ecosystem through connecting ideas with funding sources, and incubators in academic institutions which gave facilities to the youth of tier 2 and tier 3 cities. “Startup has become a social culture and no one can stop a social culture”, said.

The Prime Minister said that the startup revolution is being led by small cities and that too in a wide range of sectors including agriculture, textiles, medicine, transport, space, yoga and ayurveda. Elaborating on space startups, the Prime Minister said that Indian startups are working in more than 50 areas in the space sector, including the launch of the space shuttle.

The Prime Minister commented on the changing mindset about startups. He said that startups have changed the psyche that a lot of money is needed to start a business. He commended the youth of the country for choosing the path of becoming a job creator rather than a job seeker.

“India is the third largest startup ecosystem with 1.25 lakh startups involving 12 lakh youth who are directly linked with them”, he said. The Prime Minister asked the entrepreneurs to be vigilant about filing their patents quickly. GeM portal has provided more than 20,000 crore rupees to businesses and startups. He praised the youth for getting into new areas. The Prime Minister stated that the start-ups launched on the policy platforms are reaching new heights today.

Underlining the impetus provided by Digital India to start-ups, the Prime Minister said that it is a huge inspiration and suggested colleges take it up as a case study. He mentioned UPI becoming a pillar of support for the fin-tech start-ups which lead the development of innovative products and services for the expansion of digital services in the country. He recalled the huge queues of industry and world leaders at a booth that was set up in Bharat Mandapam during the G20 Summit explaining the working of UPI and offering a trial run. This, the Prime Minister said, has strengthened financial inclusion and reduced the rural and urban divide, while also democratizing technology. The Prime Minister expressed delight that more than 45 percent of start-ups in the country are women-led, be it education, agriculture or health.

The Prime Minister emphasized the importance of the culture of innovation for humanity, not just for Viksit Bharat. He mentioned India’s initiative to provide a platform for the global startup under Startup-20 which treats startups as the growth engine. He also talked of India’s upper hand in AI.

The Prime Minister underlined the numerous opportunities being created for both young innovators and global investors with the advent of the AI industry and mentioned the National Quantum Mission, India AI Mission and Semiconductor Mission. Shri Modi recalled discussing AI during his address at the US Senate a while ago and assured that India will continue to be a leader in this sector. “I believe that Indian solutions for global applications will become a helping hand for many nations in the world”, the Prime Minister said.

The Prime Minister acknowledged the global desire to learn from Indian youth through hackathons etc. Solutions tested in Indian conditions have global acceptance, he said. He mentioned the National Research Foundation and 1 lakh crore fund for research and planning for the needs of the future in the sunrise sector areas.

The Prime Minister asked the startups to give back to society by supporting individuals and institutions to come up in the startup sector. He asked them to visit incubation centers, schools and colleges and share their insights with the students. He narrated his experiences of involving the youth by throwing open the government problem statements for solutions through hackathons. He reported that many good solutions were adopted in the governance and a hackathon culture for finding solutions became established in the government. He asked businesses and MSMEs to follow suit. He asked Mahakumbh to come out with actionable points.

The Prime Minister underlined the contributions of the youth of India in making it the fifth largest economy in the world from the 11th position and also highlighted the role to be played by startups in fulfilling the guarantee to make India the third largest economy in the third term. Concluding the address, the Prime Minister said that interacting with the youngsters fills him with new energy as he conveyed his best wishes for the future.

Union Minister for Commerce and Industry, Shri Piyush Goyal, Union Ministers of State Smt Anupriya Patel, and Shri Som Prakash were present on the occasion among others.

The Prime Minister, Shri Narendra Modi has replied to the President of Republic of Bulgaria, Mr Rumen Radev regarding the Indian Navy rescuing a hijacked Bulgarian ship “Ruen” and its crew members including 7 Bulgarian citizens. The Prime Minister expressed appreciation and emphasized India’s commitment to protecting freedom of navigation and combating piracy and terrorism in the Indian Ocean region.

The Prime Minister posted on X:

“Appreciate your message President of Republic of Bulgaria. We are happy that 7 Bulgarian nationals are safe and will be returning home soon. India is committed to protecting freedom of navigation and combating piracy and terrorism in the Indian Ocean region.”

The provisional figures of Direct Tax collections for the Financial Year 2023-24 (as on 17.03.2024) show that Net collections are at Rs. 18,90,259 crore, compared to Rs. 15,76,776 crore in the corresponding period of the preceding Financial Year (i.e. FY 2022-23), representing an increase of 19.88%.

The Net Direct Tax collection of Rs. 18,90,259 crore (as on 17.03.2024) includes Corporation Tax (CIT) at Rs. 9,14,469 crore (net of refund) and Personal Income Tax (PIT) including Securities Transaction Tax (STT) at Rs. 9,72,224 crore (net of refund).

The provisional figures of Gross collection of Direct Taxes (before adjusting for refunds) for the Financial Year 2023-24 stand at Rs. 22,27,067 crore compared to Rs. 18,75,535 crore in the corresponding period of the preceding financial year, showing a growth of 18.74% over the collections of FY 2022-23.

The Gross collection of Rs. 22,27,067 crore includes Corporation Tax (CIT) at Rs. 10,98,183 crore and Personal Income Tax (PIT) including Securities Transaction Tax (STT) at Rs. 11,25,228 crore. Minor head wise collection comprises Advance Tax of Rs. 9,11,534 crore; Tax Deducted at Source of Rs. 10,44,511 crore; Self-Assessment Tax of Rs. 1,73,296 crore; Regular Assessment Tax of Rs. 73,548 crore; and Tax under other minor heads of Rs. 24,177 crore.

Provisional figures of total Advance Tax collections for Financial Year 2023-24 (as on 17.03.2024) stand at Rs. 9,11,534 crore, against Advance Tax collections of Rs. 7,45,246 crore for the corresponding period of the immediately preceding Financial Year (i.e. FY 2022-23), showing a growth of 22.31%. The Advance Tax collection of Rs. 9,11,534 crore comprises Corporation Tax (CIT) at Rs. 6,72,899 crore and Personal Income Tax (PIT) at Rs. 2,38,628 crore.

Refunds amounting to Rs. 3,36,808 crore have also been issued in the FY 2023-24 till 17.03.2024, as compared to refunds of Rs. 2,98,758 crore issued in FY 2022-23, marking an increase of 12.74% over the refunds issued during the same period in the preceding year.