The government increased FCI’s authorized capital from ₹10,000 crore to ₹21,000 crore

To demonstrate its commitment to improving the Food Corporation of India’s (FCI) operating capabilities, the government increased the FCI’s permitted capital from ₹10,000 crore to ₹21,000 crore

The Food Corporation of India (FCI) has seen an increase in allowed capital from ₹10,000 crore to ₹21,000 crore by the government, indicating a major commitment to improving the organization’s operating capabilities. The Food Ministry’s announcement of this project demonstrates the government’s commitment to enhancing FCI’s function in guaranteeing food security and defending the rights of farmers.

Importance of Increased Authorized Capital: The purpose of increasing authorized capital is to improve FCI’s operational performance by lowering interest costs and having a beneficial effect on government subsidies.
Modernization Imperative: The government prioritizes the adoption of cutting-edge technologies for improved performance, as well as the modernization of transportation networks and storage facilities. These measures are in addition to financial injection.
Agricultural Empowerment: The government is taking a cooperative approach to empowering farmers, strengthening the agricultural sector, and guaranteeing national food security as seen by its commitment to MSP-based procurement and investment in FCI’s operational capacities.

About the Foundation and Goals of the Food Corporation of India (FCI):

FCI is a statutory agency under the Ministry of Consumer Affairs, Food and Public Distribution, Government of India. It was established in 1965 under the Food Corporation Act, 1964. Purchasing grains at Minimum Support Prices (MSP), supplying grains to the Public Distribution System (PDS), and keeping strategic grain reserves are among its key goals.

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Measures to Boost FCI’s Productivity
Integrated IT Systems: To move toward a paperless workplace and efficiently simplify operational processes, FCI is putting integrated IT solutions into place and embracing e-office initiatives.
Infrastructure Development: To improve operational efficiency, investments are being made in infrastructure projects such the building of cement roads, roof maintenance, and weighbridge upgrading.
Quality Assurance: To guarantee compliance with strict quality standards, efforts are being made to acquire lab equipment and create software platforms for quality evaluation.