STOCK MARKET BSE NSE

Government Releases Rs 25,834 Crore Subsidy to FCI This Fiscal

The government has released Rs 25,834 crore subsidy to the Food Corporation of India (FCI) so far this fiscal.

Published: 29th April 2016 05:05 PM  |   Last Updated: 29th April 2016 05:05 PM   |  A+A-

By PTI

NEW DELHI: The government has released Rs 25,834 crore subsidy to the Food Corporation of India (FCI) so far this fiscal.

"The subsidy is provided to reimburse the FCI for expenses incurred on acquisition of foodgrains and the allied logistics of supplying it to States for distribution under the Targeted

Public Distribution System (TDPS), National Food Security Act (NFSA), 2013 and other welfare schemes," Food Minister Ram Vilas Paswan said in a written reply to the Rajya Sabha.

The government has released Rs 25,834 crore as subsidy to FCI till April 25 of this financial year, according to data placed by the minister.

The Centre paid Rs 1,12,000 crore as subsidy to FCI in 2015-16 fiscal. FCI got Rs 91,995 crore in 2014-15 and Rs 75,500 crore in 2013-14, the data showed.

FCI is the government's nodal agency for procurement and distribution of foodgrains.

"Government of India controls the release of food subsidy to FCI as per the budget estimates and monthly/quarterly expenditure plan supported by Utilisation Certificates by FCI," Paswan said.

"The auditing of the accounts of the FCI is done by the Comptroller and Auditor General of India (C&AG) regularly.

Annual accounts of FCI are laid before both houses of Parliament every year," the minister added.

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp