FCI should emerge as a trusted partner of farmers, says Goyal
- The Food Minister lauded the role of Food Corporation of India on its 60th founding anniversary.
- He said the FCI should emerge as a trusted partner of farmers and people of the country.
Background
- The role of the Food Corporation of India (FCI) is not only to deliver rations but also to instill confidence in farmers and beneficiaries by bringing in transparency, efficiency, and accountability,
- The FCI plays a crucial role in facilitating flagship schemes such as Pradhan Mantri Garib Kalyan Anna Yojana [PMGKAY] by providing ration to beneficiaries in every corner of the country,
- The FCI should embrace digitisation and technology to improve efficiency.
- Quality can be achieved in areas such as inspection, procurement, transportation, distribution, and storage,” he said.
- The FCI to reduce operational costs through route optimisation, mechanised loading/unloading, innovative storage solutions, and other methods.
- The open market sale scheme (domestic) operations had also proved to be an effective tool in moderating the prices of wheat and rice.
Open Market Sale Scheme (OMSS)
- FCI sells surplus stocks of wheat and rice at predetermined prices through e-auction in the open market from time to time to enhance the supply of food grains.
- The purpose of OMSS is to dispose of surplus stocks of wheat and rice held by FCI, and to regulate the prices of wheat in the open market.
- FCI conducts weekly auctions for the OMSS for wheat on the platform of the National Commodity and Derivatives Exchange Limited (NCDEX).
- NCDEX is a commodity exchange platform in India that provides a platform for trading in various agricultural and other commodities
Prelims Takeaway
- Open Market Sale Scheme
- Food Corporation of India