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Cabinet clears Rs 45,000 cr loan to FCI from Small Savings Fund

Repayment obligation of the FCI will be treated as the first charge on food subsidy released to FCI

IANS  |  New Delhi 

The Union Cabinet on Wednesday approved a loan of Rs 45,000 crore to the FCI out of the National Small Savings Fund, as well as exempted most states and UTs from the mandatory investment norms for funds collected under the NSSF scheme. "The Union Cabinet has given its approval to exclude states/Union Territories (with legislature) except Arunachal Pradesh, Delhi, Kerala and Madhya Pradesh from the National Small Savings Fund (NSSF) investments from April 1, 2016. "It also approved a one-time loan of Rs 45,000 crore from the NSSF to the Food Corporation of India (FCI) to ...

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First Published: Wed, January 18 2017. 21:28 IST
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