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₹10,700 cr equity infusion into FCI cleared as working capital
Business Standard
|November 07, 2024
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved an equity infusion of ₹10,700 crore in the state-owned Food Corporation of India (FCI) to boost its working capital requirements for the current financial year (FY25).
The equity has been infused by converting the Ways and Means Advance into equity. A Ways and Means Advance (WMA) is a temporary loan given by the government to the FCI to meet mismatches in government receipts and payments. The FCI must repay the WMA by March 31 of the same financial year.
Cette histoire est tirée de l'édition November 07, 2024 de Business Standard.
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