Govt raises FCI capital from Rs. 10,000 crore to Rs. 21,000 crore

The government has increased the authorised capital of state-run Food Corporation of India (FCI) from Rs 10,000 crore to Rs 21,000 crore to enhance the operational capabilities and fulfil its mandate effectively, the Food Ministry said.

FCI is the central government’s nodal agency that undertakes procurement of foodgrains at a minimum support price (MSP) to protect the interest of farmers. It also maintains strategic stocks and distributes the grains under different welfare schemes.

”The increase in authorized capital is a significant step towards enhancing the operational capabilities of FCI in fulfilling its mandate effectively,” the ministry said in a statement.