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Cabinet approves infusion of equity in Food Corporation of India

About Food Corporation of India (FCI)

  • FCI is a statutory body set up in 1965 (under the Food Corporation Act, 1964)
    • It operates under the Ministry of Consumer Affairs, Food and Public Distribution, Government of India.
  • The FCI is the main agency responsible for the execution of food policies of the government.
  • Main objectives of FCI:
    • Effective price support operations for safeguarding the interests of the farmers.
    • Distribution of food grains throughout the country for public distribution system.
    • Maintaining satisfactory level of operational and buffer stocks of food grains to ensure National Food Security.
Cabinet Committee on Economic Affairs
  • It is headed by the Prime Minister.
  • Presently it has 11 members including key Union Ministers like the Minister of Finance, Commerce and Industry, agriculture and others.
  • It is responsible for high-level economic decision-making in India.

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