Krishi VaartaOutlook Agriculture
FCI's Authorized Capital Increased, Grain Packing Mandatory in Jute
New Delhi: The Cabinet Committee has approved to increase the authorized capital of Food Corporation of India (FCI) from existing Rs 3,500 crore to Rs 10,000 crore, making it mandatory to pack grains in 100% jute sack while giving relief to the jute industry.
This approval was given in the meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi. Food Corporation of India is the nodal agency for procurement of food grains at minimum support price (MSP) from farmers, and the agency procures wheat and rice extensively from farmers.
Food Corporation of India along with creating buffer stock of food grains, also allocates food grains in Public Distribution System (PDS) and other welfare schemes. To give relief to the jute industry, the CCEA has also made it mandatory to do 100% packing of grains in jute sacks. In addition, 20% packing of sugar in jute sacks was also made mandatory. The jute industry employs about 3.7 lakh people. In addition, lakhs of farmer families depend on jute crops for their livelihood.
Source: Outlook Agriculture, 27 November 2019
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