Joyalukkas' One-Paise Bid Not a Typo, Minister Clarifies

Health Minister K.G. Arunraj clarified that the one-paise bid by Joyalukkas, a gold retailer, in the Thaimamam Thanga Mothiram Thittam scheme was not a typographical error but a goodwill gesture with no profit motive. The tender was floated for the additional charges, including making and transportation costs, not the actual gold price.

The gold price is fixed daily by the India Bullion and Jewellers Association, and Joyalukkas quoted one paise below this rate. The Minister explained that 11 companies were eligible to bid on the scheme, but only Joyalukkas and Kalyan Jewellers agreed to match the low price.

As a result, 70% of the work was awarded to Joyalukkas, with Kalyan Jewellers receiving the remaining 30%. The Minister estimated that this will save the State government between ₹20 crore to ₹25 crore per year through a fair and transparent tender process.