FCI Current Affairs, GK & News

CMIE: Unemployment rate climbs to 27.1%

On May 5, 2020, the Centre for Monitoring of Indian Economy released unemployment data. According to the data, 121.5 million are without works. Highlights The data says that 91,3 million daily wage labourers were out of their jobs due to COVID-19 crisis. Also, 18.2 million entrepreneurs are without work as there are lack of labourers. ..

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National Biofuel Coordination Committee: Surplus Rice to be used to make Sanitizers

On April 20, 2020, the Minister of Petroleum Shri Dharmendra Pradhan held National Biofuel Coordination Committee (NBCC) meeting. Under the meeting, it was decided that surplus rice that is available with Food Corporation of India is to be used in manufacturing ethanol that is used in hand sanitizers. Highlights Under the NBCC, it was decided ..

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Authorised capital of Food Corporation of India increased to Rs.10000 cr from Rs.3500 cr

Cabinet Committee on Economic Affairs (CCEA) approved increasing authorized capital of Food Corporation of India (FCI) from existing Rs.3,500 crore to Rs.10,000 crore. CCEA was chaired by Prime Minister Narendra Modi. Key Highlights FCI’s operations require maintaining perpetual stock of foodgrains which needs to be funded by government of India through equity or via long ..

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Centre increases Wheat Import Duty by 40%

With wheat production at record high, government has raised import duty on wheat from existing 30% to 40% to support local farmers interest. The higher duty will help offtake of domestically produced grain by discouraging milers to import wheat but to buy local produce and help protect farm prices. The oversupply in domestic market due ..

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Cabinet approves the exclusion of States from National Small Savings Fund

The Union Cabinet has excluded States and Union Territories except Arunachal Pradesh, Kerala, Delhi (UT) and Madhya Pradesh from National Small Savings Fund (NSSF) investments with effect from 1 April 2016 The cabinet meeting chaired by Prime Minister Narendra Modi also approved one-time loan of Rs. 45000 crore from NSSF to Food Corporation of India ..

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