Cabinet approves increase in Food Corporation of India’s authorized capital to Rs 10,000 crore
Updated : November 27, 2019 12:00 PM IST
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved the increase in authorized capital of the Food Corporation of India (FCI) to Rs 10,000 crore from existing Rs 3,500 crore.
With the increase of authorized capital, additional equity capital can be infused in FCI through the Union budget to fund food grains stock.
The operations of FCI require maintaining perpetual stock of food grains funded by the government of India through equity or long term loans.