Government boosts FCI capital to Rs 21,000 crore for agricultural sector boost

In a crucial move for agricultural welfare, the Government of India has hiked the authorised capital of the Food Corporation of India (FCI) from Rs 10,000 Crore to Rs 21,000 Crore. This strategic decision is expected to supporting farmers and strengthening India’s agrarian economy.

FCI, the cornerstone of India’s food security framework, plays a pivotal role in various functions, including MSP-based grain procurement, maintaining strategic food stocks, and stabilizing grain prices. The capital increase aims to enhance FCI’s operational capabilities, reduce interest burdens, and positively impact Government subsidies.

This infusion of capital will facilitate FCI’s modernization of storage, transportation, and adoption of advanced technologies to minimize post-harvest losses and improve grain distribution. The move aligns with the government’s dual commitment to MSP-based procurement and investment in FCI’s operational efficiency, empowering farmers and ensuring food security.

As FCI integrates IT solutions, adopts automation, and invests in infrastructure, the nation anticipates a more resilient and prosperous future for its agricultural sector, with farmers at its core. The government’s periodic specifications for maintaining strategic grain stocks underscore FCI’s role in addressing food-related challenges and ensuring the nation’s resilience.