- FCI was set up in 1965 under the Food Corporation’s Act 1964.
- Role:
- Effective price support operations for farmers (procurement at MSP).
- Distribution of food grains throughout the country for PDS.
- Maintaining safety level of operational and buffer stocks.
- Ensures effective market intervention to keep prices in check.
- Procures wheat and rice/paddy through centralized and decentralized systems.
- Provides scientific storage facilities (depots, silos, godowns).
- Transports food grains from surplus to deficit states.
- Maintains buffer stock for TPDS, food security, and price stabilization.