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Cabinet approves infusion of equity of Rs.10,700 crore in FCI

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The Cabinet Committee on Economic Affairs (CCEA) chaired by the Prime Minister Shri Narendra Modi on 6 November approved infusion of equity of Rs.10,700 crore for working capital in financial year 2024-25 in Food Corporation of India (FCI). The decision is aimed at bolstering the agricultural sector and ensuring the welfare of farmers nationwide. This strategic move shows the Government’s steadfast commitment to supporting farmers and fortifying India’s agrarian economy.

FCI plays a pivotal role in ensuring food security by procurement of food grains at Minimum Support Price (MSP), maintenance of strategic food grain stocks, distribution of food grains for welfare measure and stabilization of food grain prices in the market.

The infusion of Equity is a significant step towards enhancing the operational capabilities of FCI in fulfilling its mandate effectively.