Biggest boost to FCI working capital to help modernisation
New Delhi, April 21 -- The Union government has sharply increased the working capital of the Food Corporation of India for 2024-25 in a financial boost that will minimize borrowings and interest payouts, and fund a planned modernization drive of the biggest grain-handling agency of the country, according to a notification seen by HT. The government has raised the authorized working capital of FCI to Rs.21,000 crore from Rs.10,000 crore, the biggest hike ever, which an official described as a "strategic step towards enhancing the operational capabilities of the FCI in fulfilling its mandate effectively". P6...
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