What is the correct statement regarding the government's

Solution

• The government has increased the authorised capital of state-run Food Corporation of India (FCI) from ₹10,000 crore to ₹21,000 crore to enhance the operational capabilities and fulfill its mandate effectively. • FCI is the central government's nodal agency that undertakes the procurement of foodgrains at a minimum support price (MSP) to protect the interest of farmers. • It also maintains strategic stocks and distributes the grains under different welfare schemes. • The increase in the authorised capital will reduce the interest burden, decrease the economic cost and ultimately affecting the government subsidy positively. • Learn Along: • About FCI •  Food Corporation of India (FCI) is a Public Sector Undertaking, under the Department of Food & Public Distribution, Ministry of Consumer Affairs, Food and Public Distribution. • FCI is a statutory body set up in 1965 under the Food Corporations Act 1964. It was established against the backdrop of major shortage of grains, especially wheat. • Simultaneously, Commission for Agricultural Costs and Prices (CACP) was created in 1965 to recommend remunerative prices to farmers.