FCI: The Food Corporation of India was established under the Food Corporation’s Act 1964 , in order to create following objectives of the Food Policy:
Farmers’ interests are protected by effective price support activities.
Foodgrain distribution for the public distribution system across the country.
Maintaining adequate operational and buffer food grain reserves to maintain national food security
FCI has played a key role in India’s success in changing a crisis-oriented food security system into a stable security system since its foundation.
Vision of FCI
Certifying Food Security for citizens of the country.
Mission of FCI
Food grain acquisition, storage, and distribution at a minimum support price (MSP).
Ensure food grain and sugar availability through appropriate policy instruments, particularly the preservation of food grain buffer stockpiles.
Under the PDS, food grains are made accessible at reasonable costs, especially to the poor and vulnerable sections of society.
Other Facts:
FCI is thought to be Asia’s largest supply chain management company. Wheat and rice are the organization’s main products. It buys roughly 15-20 percent of India’s entire wheat crop and 12% to 15 % of India’s total rice production every year.
Following the purchase, it distributes the food grains to various state stock depots, allowing ration card members to acquire wheat and rice at a low cost.
The Union government is supposed to compensate FCI if it experiences a loss. FCI has effectively handled a variety of food grain scarcity and abundant scenarios since its beginnings.
It was essential in changing India from a food-deficit country to one that is food self-sufficient.