Food Corp’s authorized capital to be hiked

March 13th, 2008 - 11:52 pm ICT by admin  

New Delhi, March 13 (IANS) The cabinet Thursday gave its go-ahead for raising the authorized capital of the state-owned food grain procurement agency, Food Corporation of India (FCI), from Rs.25 billion to Rs.35 billion. The enhancement of the authorised capital will help the ministry of consumer affairs to release funds allocated by the Planning Commission under the Plan scheme for construction of storage go-downs in the Northeast, Jammu and Kashmir, Himachal Pradesh and other newly emerging procuring states and integrated information system on food grain management, Principal Information Officer Deepak Sandhu told reporters.

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