Government to Infuse ₹10,700 Crore in Food Corporation of India: Strengthening Agriculture and Food Security
The government of India has decided to infuse equity capital of Rs 10,700 crore in the Food Corporation of India (FCI). This move will help FCI to meet its working capital needs, which will provide better support to the farmers and improve food security in the country. Let us know the importance of this decision and its impact in simple words.
Purpose of big investment in FCI
FCI, which is responsible for the procurement, storage and distribution of food grains in India, plays an important role in the welfare of farmers and the development of the agriculture sector. This decision of the government has been taken for the financial year 2024-25, which will help FCI to increase its working capital. This capital will help FCI to buy more food grains, distribute them to the right places and get farmers a fair price for their produce.
What does Prime Minister Narendra Modi say?
Prime Minister Narendra Modi said that this investment will improve the food procurement and distribution capacity of FCI. Along with this, farmers will get better support, which will increase their income and also improve food security. Modi called it an important step towards strengthening the agriculture sector and promoting India's food security.
Development and importance of FCI
FCI was started in 1964 with an authorized capital of Rs 100 crore, but today its position has become very strong. In 2023-24, the equity capital of FCI was Rs 10,157 crore, which has now been increased to Rs 10,700 crore. This capital investment will give further financial strength to FCI so that it can run its services in a better way.
The agriculture sector will be strengthened
This step of the government will prove to be a relief for Indian farmers. This decision will further strengthen the agriculture sector and will help farmers get their rights. The main objective of FCI is to buy food grains directly from the farmers and deliver it to the consumers, which benefits both parties.
It is worth noting that this step of the government is a positive message for the agriculture sector and farmers. This will not only strengthen food security, but farmers will also get the right value for their hard work. Equity capital of Rs 10,700 crore will increase the efficiency of FCI and farmers will get the benefit of government support.
