The government has increased the share capital of Food Corporation of India (FCI) by ₹ 10,000 crore to ₹ 21,000 crore to improve operational capacity and effectively fulfill its mandate, the food ministry said on Saturday. a government agency that is responsible for procuring food at a minimum support price to protect the interests of farmers. It also manages strategic warehouses and distributes grain under various welfare schemes.
“Increasing share capital is an important step to enhance FCI’s operational capacity to effectively carry out its mission,” the ministry said in a statement. FCI is confident about cash credit, short-term loans, ways and funds, etc. Increasing share capital will reduce interest burden, reduce financing costs and ultimately have a positive impact on government support.
With this capital increase, FCI should also start modernizing its warehouses and improving transportation networks, and adoption of advanced technologies. These measures are necessary not only to reduce post-harvest losses, but also to ensure efficient distribution of food to consumers. The center will provide capital for FCI’s working capital requirements and capital generation. FCI is undertaking a comprehensive initiative to create an integrated IT system using existing internal and external systems.
Through the implementation of electronic offices, FCI strives for a paperless office culture. These integrated IT solution initiatives will serve as an operational core. software for FCI, it should provide a single source of information. and streamline operations with a unified digital framework. According to the ministry, FCI has taken several measures to streamline its operations, including construction of cement roads, roof maintenance, and upgrades. to lighting and level bridge. The government’s dual commitment to MSP-based procurement and investment in FCI’s operational capacity means working together to empower farmers, Strengthen the agricultural sector and ensure food security for the nation, it said.
