Food Corporation of India

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Food Corporation of India
Type Government-owned corporation
Industry PSU
Founded 1964
Founder(s) Govt of India
Headquarters New Delhi, India
Area served All India
Key people Shri C. Viswanath (wef 28/5/2013 A/N) (I.A.S), Chairman & MD
Products Mainly Wheat & Rice
Services Govt Policy Execution
Employees Sanctioned:- 36515 In position:- 26716 (as on 31/3/2013)
Website http://www.fciweb.nic.in/
References: It pay through IDA pattren not in CDA

Food Corporation of India (Hindi: भारतीय खाद्य निगम) was set up on 14 January 1965 having its first District Office at Thanjavur - rice bowl of Tamil Nadu - and headquarters at Chennai under the Food Corporations Act 1964 to implement the following objectives of the National Food Policy :

  1. Effective price support operations for safeguarding the interests of the farmers
  2. Distribution of foodgrains throughout the country for Public Distribution System
  3. Maintaining satisfactory level of operational and buffer stocks of foodgrains to ensure National Food Security
  4. Regulate market price to provide foodgrains to consumers at a reliable price

Statistics[edit]

It is one of the largest corporations in India and probably the largest supply chain management in Asia (Second in world ) . It operates through 5 zonal offices and 24 regional offices. Each year, the Food Corporation of India purchases roughly 15 to 20 per cent of India's wheat output and 12 to 15 per cent of its rice output. The purchases are made from the farmers at the rates declared by the Govt. of India. This rate is called as MSP (Minimum Support Price). There is no limit for procurement in terms of volume, any quantity can be procured by FCI(Food Corporation of India) provided the stock satisfies FAQ (Fair Average Quality) specifications with respect to FCI.

Operation[edit]

The stocks are transported throughout India and issued to the State Government nominees at the rates declared by the Govt of India for further distribution under the Public Distribution System (PDS) for the consumption of the ration card holders. (FCI itself does not directly distribute any stock under PDS and its operations end at the exit of the stock from its depots). The difference between the purchase price and sale price, along with internal costs, are reimbursed by the Union Government in the form of Food Subsidy. At present the annual subsidy is around $10 billion. FCI by itself is not a Decision making authority, it does not decide anything about the MSP, Imports or Exports. It just implements the decisions made by the Ministry of Food and Ministry of Agriculture.

References[edit]

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