Empowering India: Financial Boost to FCI and Educational Support Scheme

Union Home Minister Amit Shah praised the Union Cabinet's approval of Rs 10,700 crore equity infusion into FCI, enhancing its capacity to procure and store food grains. This investment aims to improve farmers' opportunities. Additionally, the Cabinet approved the 'PM Vidyalaxmi' scheme for collateral-free educational loans to support students financially.

In a significant decision aimed at boosting India's agriculture sector, the Union Cabinet approved an equity infusion of Rs 10,700 crore into the Food Corporation of India (FCI). Union Home Minister Amit Shah lauded this move, highlighting its potential to enhance FCI's capability in procuring and storing food grains, thereby offering better opportunities to farmers.

The financial injection, approved by the Cabinet Committee on Economic Affairs under the leadership of Prime Minister Narendra Modi, is a strategic initiative to ensure food security by stabilizing grain distribution and prices. The equity will support FCI's operations for the financial year 2024-25.

Alongside this, the Cabinet also approved the 'PM-Vidyalaxmi' scheme, designed to provide guarantee-free and collateral-free educational loans. This initiative aims to remove financial barriers for students pursuing higher education, empowering India's youth and nurturing future leaders, as expressed by Amit Shah in his commendation of the government's decision.

(With inputs from agencies.)