New procurement bill in India

'The Public Procurement Bill 2011 aims to curb wasteful and infructuous expenditure and promote modern management techniques like pay back period, discounted cash flow, net present value, internal rate of return, technical and market analysis.

'The government is also setting up a national portal to promote e-procurement and publish information relating to invitations to bid, names of competing bidders, excluded bidders, debarred bidders and award details.'

Click here for the full article (source: indiablooms.com).