With reference to General Financial Rules GFR consider following statements They are set o...........

Economic Affairs Small Scale Industries

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With reference to General Financial Rules (GFR), consider following statements

They are set of rules that deal with matters that involve public finances. They were first issued in 1947 bringing together all the existing orders.
Under recent amendment to General Financial Rules (GFR) it aim to ensure that goods and services valued less than 200 crore rupees are being procured from domestic firms.
It is a big boost to domestic suppliers especially micro, small and medium enterprises (MSMEs).

Select the correct statement.

1&2 only

2&3 only

1&3 only

All of the above

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Explanation:

Recently, Government has notified amendments to General Financial Rules (GFR) to ensure that goods and services valued less than 200 crore rupees are being procured from domestic firms. Center has notified the amendments to the GFR 2017 to ensure that henceforth global tenders will be disallowed in government procurement up to 200 crore rupees, as announced in the Aatmanirbhar Bharat Package. It is a big boost to domestic suppliers especially micro, small and medium enterprises (MSMEs). Last week, the Union Finance Minister had announced an economic support package MSMEs, which includes disallowing global tender for government procurement up to 200 crore rupees. The General Financial Rules (GFRs) are set of rules that deal with matters that involve public finances. They were first issued in 1947 bringing together all the existing orders. They are instructions that pertain to financial matters.Hence all statements are correct.