FCI’s Debt Mounts To Over Rs 3 Lakh Crore, Will The Govt Sell It Too?

by Rahul Gautam Sep 23, 2020 • 05:32 PM Views 605

Amid uproar over the contentious agricultural bills, the Food Corporation of India (FCI) has come under discussion, whose debts have tripled during the six years of Modi Government. As per latest data, FCI’s debt has crossed Rs 3 lakh crore in the current fiscal, from Rs 1.06 lakh crore in 2014-15. Of which 1.45 lakh crore of the corporation is outstanding on the central government. With the implementation of new laws, when the farmer will have the freedom to sell his crop anywhere and to anyone, big companies will dominate the sector, subsequently the FCI’s role in the market will be reduced and perhaps the Central Government may kiss it goodbye like many other companies