Thanks to its granaries overflowing, Food Corporation of India’s (FCI) is unable to keep tabs on foodstocks it is supposed to have.While the paddy had been procured and was supposed to have been given to the millers, a close to 6 million tonnes (mt) of stock is yet to come back to the FCI storehouses. The food ministry has given FCI till the end of next month to retrieve the details. The value of R10,000 crore is based on the year’s procurement price only.
In terms of the stock FCI is showing on its books — 23.1 mt of rice versus the buffer norm of 7.2 mt — the missing rice adds up to a whopping 26%. Under what has been proposed, “if the outstanding stocks are not realised by the end of next month, this will be written off at the expense of the state governments. The largest chunk of the missing rice comes from states like Bihar, Chhattisgarh, Madhya Pradesh and Odisha.” an official added.