Government releases Rs. 25,834 crore to FCI as Food Subsidy

The Government has released Rs. 25,834 crore to FCI as Food Subsidy. In addition to this, wage and means advance of Rs. 10,000 crore will be released shortly. FCI is also raising short term loans from banks upto a maximum limit of Rs. 30,000 crore. Recourse to these loans will be made by FCI as and when required. Taken together these funds, there will be sufficient resources to manage Rabi procurement which has just started.

In 2015-16, original Food Subsidy allocation was Rs. 97,000 crore which was increased to Rs. 1,12,000 crore at RE stage. This helped to bring down the arrears of subsidy to Rs. 58,650 crore. During 2016-17 also the Government may consider additional food subsidy over and above budgetary provision, if required, towards the end of financial year to further bring down the subsidy arrears. 
About FCI:
Food Corporation of India was set up on 14 January 1965 having its first District Office at Thanjavur – rice bowl of Tamil Nadu – and headquarters at Chennai under the Food Corporations Act 1964 to implement the following objectives of the National Food Policy. 

Effective price support operations for safeguarding the interests of the farmers. 

Distribution of foodgrains throughout the country for Public Distribution System. 

Maintaining satisfactory level of operational and buffer stocks of foodgrains to ensure National Food Security. 

Regulate market price to provide foodgrains to consumers at a reliable price

FCI Chairman and Managing Director Yogendra Tripathi

Extra info:
  • Food Corporation of India operates through it Field Offices/District Offices which are headed by an Assistant General Manager, designated as Area Manager. Assistant General Manager (QC) is also posted who is looking after the QC work. Under Area Manager control there are Managers to deal with each and every section viz., sales, contracts, movement, establishment, quality control, operational accounts etc.
  • Ministry of Food Processing Industries of India – Cabinet minister: Harsimrat Kaur Badal
  • Union MInister of Food and Public Distribution – Ram Vilas Paswan

So lets do:

  • Expand the FCI?
  • Who is the Chairman of FCI?
  • Government has released ______ to FCI as Food Subsidy.
  • Who is the MInister of Food and Public Distribution?

Source – The Economic Times

Download success!

Thanks for downloading the guide. For similar guides, free study material, quizzes, videos and job alerts you can download the Adda247 app from play store.


Leave a comment

Your email address will not be published. Required fields are marked *