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Government Approves Rs 10,700 Crore Equity Infusion for Food Corporation of India
Government Approves Rs 10,700 Crore Equity Infusion for Food Corporation of India
Government Approves Rs 10,700 Crore Equity Infusion for Food Corporation of India
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|Times of India|7 months ago

The Indian Cabinet has approved a Rs 10,700 crore equity infusion into the Food Corporation of India (FCI) to meet its working capital needs for the current financial year. This move is expected to reduce the government's interest burden by approximately Rs 800 crore annually and decrease subsidy expenditures. The initiative aims to strengthen the agricultural sector and support farmers across the country. FCI, established in 1964, has seen significant growth in its capital, and this infusion is intended to enhance its operational capabilities and financial stability.

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