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Q37 (CISF/2020) Economy › Agriculture & Rural Economy

In November 2019, authorised capital of which one of the following public sector units was increased from ₹ 3,500 crore to ₹ 10,000 crore ?

Result
Your answer: —  ·  Correct: D

Explanation

In November 2019, the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the increase in the authorized capital of the Food Corporation of India (FCI) from ₹ 3,500 crore to ₹ 10,000 crore.

  • Objective: The increase in authorized capital was intended to provide additional equity to FCI to fund the foodgrain stocks held by it.
  • Impact: This move helped reduce FCI's reliance on high-interest short-term loans and borrowings (such as National Small Savings Fund loans), thereby decreasing the overall interest burden and the food subsidy requirement of the Government of India.
  • FCI is a statutory body established under the Food Corporations Act, 1964, and plays a vital role in India's food security through procurement, storage, and distribution of foodgrains under the Targeted Public Distribution System (TPDS).
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