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Government move to bring down FCI borrowings, reduce food subsidy outgo
Credit: IndiaTimes- Published on February 16, 2024
The government has increased the authorised capital of Food Corporation of India (FCI) from Rs 10,000 crore to Rs 21,000 crore through a notification. This move will help FCI reduce its borrowings from banks and save approximately Rs 750 crore annually. FCI is responsible for procurement of foodgrains from farmers, stocking and...