Cabinet approves infusion of Rs 10,700 crore equity in FCI to strengthen it says I&B Minister Ashwini Vaishnaw

New Delhi, Nov 06, 2024, By news on air

The government has decided to infuse fresh equity of 10,700 crore rupees for the Food Corporation of India.

Briefing the media in New Delhi today, Information and Broadcasting Minister Ashwini Vaishnaw said that FCI plays a big role in the procurement of food and that it has been decided to significantly strengthen the FCI. He said that this is a significant step towards enhancing the operational capabilities of FCI.

The infusion of equity is a significant step towards enhancing the operational capabilities of FCI. This infusion will help lower the interest burden and will ultimately reduce the subsidy burden on the government. FCI plays a pivotal role in ensuring food security by procuring food grains at the Minimum Support Price, maintaining strategic food grain stocks, and stabilizing food grain prices in the market.