FCI Full Form | What is the Full Form of FCI
FCI Full Form - Food Corporation of India
Full Form of FCI
- FCI stands for Food Corporation of India.
- It's a government body in India that deals with the acquisition, sale and distribution of food grains across the country.
- Its vision is to make sure food security for citizens of the country.
- It operates through 5 zonal offices and a head office located at Delhi.
- As of May 2017, Sh. YogendraTripathi is that the Chairman and director of FCI.
- Procurement at Minimum Support Price (MSP) to make sure adequate food grains production by the farmers.
- Ensure food grains and sugar availability through appropriate policies and buffer stocks.
- Making food grains accessible at reasonable prices through Public Distribution Shop (PDS) especially for the economically weaker sections of the society.
Food Corporation of India
- It was found out on 14 January 1965 under the Food Corporation's Act 1964 to satisfy the following objectives of the Food Policy.
- Price support operations to safeguard the interests of farmers.
- Uniform distribution of food grains throughout the country through effective public distribution system
- Maintain the specified level of stocks of food grains to make sure National Food Security
- FCI is believed to be the most important supply chain management in Asia.
- The key products of this organization are Wheat and Rice. Every year, it purchases around 15-20 percent of India's total wheat production and around 12-15 percent of India's total rice production.
- After the acquisition, it supplies the food grains to the stock depots of various states in order that card holders can purchase wheat and rice at a minimal price.
- If FCI suffers any loss, the Union government is meant to reimburse the losses. Since its inception, FCI successfully handled various situations of scarcity and abundance of food grains.
- It's played an important role in transforming India from a food deficit country to a self-sufficient country in food.