Cabinet approves infusion of equity in Food Corporation of India

The Cabinet Committee on Economic Affairs (CCEA) has approved an equity infusion of ₹10,700 crore in the Food Corporation of India (FCI) to strengthen its financial base.

Sakshi Gupta Last updated on November 7th, 2024 07:31 pm Leave a comment

About Food Corporation of India (FCI)

FCI is a statutory body set up in 1965 (under the Food Corporation Act, 1964)
- It operates under the Ministry of Consumer Affairs, Food and Public Distribution, Government of India.
The FCI is the main agency responsible for the execution of food policies of the government.
Main objectives of FCI:
- Effective price support operations for safeguarding the interests of the farmers.
- Distribution of food grains throughout the country for public distribution system.
- Maintaining satisfactory level of operational and buffer stocks of food grains to ensure National Food Security.

Cabinet Committee on Economic Affairs

It is headed by the Prime Minister.
Presently it has 11 members including key Union Ministers like the Minister of Finance, Commerce and Industry, agriculture and others.
It is responsible for high-level economic decision-making in India.

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