e-Bill will end 'rent seeking' in govt contracts: Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman
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Finance Minister Nirmala Sitharaman

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Finance Minister Nirmala Sitharaman on Wednesday said the new Electronic Bill (e-Bill) processing system will stop any possible 'rent seeking' in the clearance of dues to contractors or suppliers of government departments.

New Delhi: Finance Minister Nirmala Sitharaman on Wednesday said the new Electronic Bill (e-Bill) processing system will stop any possible 'rent seeking' in the clearance of dues to contractors or suppliers of government departments.

The e-Bill processing system, which was announced in the Budget, was launched on Wednesday. It will be implemented across all central ministries and departments and suppliers and contractors will now be able to submit their claims online, which will be trackable on a real-time basis. Speaking at the 46th Civil Accounts Day, Sitharaman said this will ensure end-to-end digitisation and make the payment process transparent by using technology not just within the government departments, but extending the second leg to the citizens' use.

With the e-Bill initiative, claimants would be able to submit digitally signed bills on the PFMS and check status without approaching offices. "The system will provide huge convenience to suppliers and contractors. It will have a shorter bill payment cycle, a more effective audit trail. It will be an effective tool to facilitate uninterrupted government disbursements in pandemic like situations," she said. The e-Bill system has been rolled out on a pilot basis in eight ministries.

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