Joyalukkas emerges L1 bidder for Rs 755-crore Tamil Nadu gold ring scheme

CHENNAI: Jewellery major Joyalukkas has emerged as the lowest (L1) bidder for Tamil Nadu government’s Rs 755-crore ‘Thaimaman Thanga Mothiram’ scheme, quoting just one paisa towards making charges and other additional costs, excluding the cost of gold, said a Thanthi TV report.

The tender has been floated for the flagship welfare scheme, which is scheduled to be launched on September 15. Under the scheme, every child born in government hospitals and primary health centres across the State will receive a one-gram gold ring along with essential baby-care items.

One-paisa quote for additional charges

The tender was floated for the procurement and supply of gold rings under the scheme. Joyalukkas Jewellery, which emerged as the L1 bidder, reportedly quoted just one paisa towards making charges, apart from other costs associated with the rings.

The one-paisa quote covers additional charges including making charges, hallmarking, packing, insurance and transportation, while the actual cost of the gold is excluded.

The scheme was announced by the Tamil Nadu government after the Assembly elections and is aimed at encouraging institutional deliveries and providing support to mothers who give birth at government healthcare facilities.

The government is expected to finalise the tender process before the scheme's proposed launch on September 15.