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Food subsidies got 4x in 10 years; Expenditure increased on buffer stock for free ration
Information and Broadcasting Minister Ashwini Vaishnav says that the food subsidy has increased four times in ten years from 2014 to 2024. Between 2004 and 2014, farmers were given food subsidies of only five lakh 15 thousand crores, which has increased to 21 lakh 56 thousand crores during the last decade.
The central government decided to make FCI financially stable since it understands the value of farmers' contributions to crop procurement and public distribution. FCI will receive an equity investment of Rs 10,700 crore for this.
140 crore people in the country depend on FCI to ensure their food security. Additionally, it oversees the distribution of food grains under the welfare program, the storage of grains, the management of pricing, and the procurement of grains from farmers at the Minimum Support Price (MSP).
After the Union Cabinet meeting, Information and Broadcasting Minister Ashwini Vaishnav said that FCI has a key role in the foodgrain procurement process. There has been a major increase in the procurement of food grains and MSP in the last decade. The objective of this decision is to promote the agriculture sector and ensure the welfare of farmers.
