Food Corporation of India

Food Corporation of India was setup on 14th January 1965 under Food Corporation Act 1964 with authorised capital of almost $600 million^[1] to implement the national policy for price support operations, procurement, storage, preservation, inter-state movement and distribution operations. Events 1129 - Formal approval of the Order of the Templar at the Council of Troyes. Year 1965 ( MCMLXV) was a Common year starting on Friday (link will display full calendar of the 1965 Gregorian calendar. The following is a comprehensive list of Acts passed by the British (or by Indians in the Imperial Legislative Council between 1836 and 1947 and the Parliament of India after

It operates through 5 zonal offices and a regional office in Delhi. Delhi (दिल्ली ਦਿੱਲੀ دلی d̪ɪlːiː sometimes referred to as Dilli) is the second largest metropolis of India, with a population Each year, the Food Corporation purchases roughly 15-20 per cent of India's wheat output and 12-15 per cent of its rice output. The losses suffered by FCI are reimbursed by the Union government, to avoid capital erosion, and thus declared as a subsidy in the annual budget. In Economics, a subsidy (also known as a subvention is a form of financial assistance paid to a business or economic sector In 2007, such food subsidies were met by government bonds worth almost $8 billion. ^[2]

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