Finance Ministry decides to extend benefit of reduced performance security of 3 percent till 31st March'23 for all Central Government's contracts

Finance Ministry has decided to extend the benefit of reduced performance security of three percent till 31st March 2023 for all Central Government's tenders and contracts. Ministry has reduced quantum of Performance Security from five to 10 percent to three percent of value of contract. The Ministry said, this relief will help the industries to deploy additional resources in project execution. Timely and economical project execution by industry is vital for high-speed development of in...