Question

FCI stands for.
A. Frog crop investigation
B. Food Corporation of India
C. Food corporation of Indonesia
D. Food collection investors

Answer 1

Hint: FCI is defined as Food Corporation of India.
It was founded on 14 January 1965.
Chairman of this corporation is D.V Prasad.
It is a type of public sector enterprise.

Complete answer:
FCI stands for Food Corporation of India.
It is an organization created and run by the government of India.
It comes under the category of ministry of consumer affairs, Food and public distribution.
It became a food corporation act in 1664 in the parliament of India.
Initially, its top headquarters was in Chennai and later got shifted to New Delhi.
It includes main products like Wheat and Rice.
Its main services are to ensure food security in India.
Main objective of the national food policy is:
1. Effective price support operations for safeguarding the interests of the poor farmers
2. Distribution of food grains throughout the country for Public Distribution System (PDS)
3. Maintaining a satisfactory level of operational and buffer stocks of food grains to ensure National Food Security.
4. Regulate market price to provide food grains to consumers at a reliable price
Chairman and managing director is D.V. Prasad.
It is one of the largest corporations in India and largest supply chain management in Asia.
The purchases are made from the farmers at the rate set by the government of India which is known as Minimum Support Price (MSP).
FCI has been divided into 5 zones viz. North, South, East, and West & North-East with a Zonal Office in each zone.

So, the correct option is option B. Food Corporation of India.

Note: Government of India set up a high-level committee under the chairmanship of Hon'ble Member of Parliament and former Minister of Food and Consumer Affairs and Public Distribution Shri Shanthakumar to recommend viable solutions regarding restructuring and reorienting the role of Food Corporation of India, and the committee submitted its report to the government, and many of the committee recommendations are under various stages of implementation.
On 27 November 2019, Cabinet Committee on Economic Affairs (CCEA) approved to increase the authorized capital of Food Corporation of India (FCI) from existing Rs.3,500 crore to Rs.10,000 crore.