Rs 1.45 trillion extra resources for FCI's capital needs, says govt

The IEBR of FCI for FY24 - in line with the Budget documents - is projected to jump a staggering 164 per cent to nearly Rs 1.45 trillion, from the 2022-23 (FY23) Revised Estimates (RE) of Rs 55,000 cr

In an attempt to clear the air on the outlay of Rs 1.45 trillion shown as internal and extra budgetary resources (IEBR) for Food Corporation of India (FCI) in the Union Budget 2023-24 (FY24), the Centre on Tuesday said the figure represents an indicative estimate of short-term working capital requirement of the FCI.

It is to provide money for the cost of procurement and managing public distribution system (PDS) operation costs. Costs from these working capital requirements are included in the food subsidy released to FCI from the Budget, said an official statement.

The IEBR of FCI for FY24 —