GoI boosts agricultural sector with FCI’s authorized capital increase to Rs 21,000 crore
The Government of India (GoI) has announced a landmark increase in the authorized capital of the Food Corporation of India (FCI) from Rs 10,000 Crore to Rs 21,000 Crore. This strategic decision underscores the government’s commitment to supporting farmers and strengthening India’s agrarian economy.
As the pillar of India’s food security, FCI plays a crucial role in food grain procurement, maintenance of strategic stocks, and stabilizing food grain prices. The increase in authorized capital enhances FCI’s operational capabilities, reducing interest burdens and positively impacting the subsidy of GoI.
The infusion of capital will enable FCI to modernize storage facilities, improve transportation networks, and adopt advanced technologies, essential for reducing post-harvest losses and efficient food grain distribution. FCI is also implementing an Integrated IT system and digital initiatives to streamline functions and enhance efficiency.
The government’s commitment to MSP-based procurement and investment in FCI’s operational capabilities signifies a collaborative effort towards empowering farmers, fortifying the agricultural sector, and ensuring food security. These measures are expected to pave the way for a resilient and prosperous future for India’s agricultural sector.
