Government move to bring down FCI borrowings, reduce food subsidy outgo

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 distribution under the PDS.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/wz4TAeL
>

Comments

Popular posts from this blog

Katrina Kaif looks elegant as ever in a ruffled floral midi dress worth Rs. 15,000 for her visit to Sanjay Leela Bhansali's office

Salman Khan reveals the three villains of Radhe-Your Most Wanted Bhai; says they made the film look stronger and bigger

Dia Mirza admits Rehnaa Hai Terre Dil Mein had sexism in it