 "Clean slate: Govt clears FCI’s liabilities to National Small Savings Fund")
The story has been updated
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The Union government has cleared the unsecured debt Food Corporation of India (FCI) owes the National Small Savings Fund (NSSF), ending a process that began in 2017.
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The Union government has cleared the unsecured debt Food Corporation of India (FCI) owes the National Small Savings Fund (NSSF), ending a process that began in 2017.
The government made the cash infusion before the financial year 2020-21 ended, letting FCI begin FY22 on a clean slate in terms of unsecured loans.
Now FCI will have the usual working capital loans through bonds, ways and means advances, and short-term loans on its books.
The interesting part is that the Centre has outpaced its own plan while doing so. The Union Budget 2021-22 had envisaged
