Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

General Knowledge

Topic

Economics

Question:

Buffer Stock is the stock of foodgrains, namely wheat and rice, procured by the government through the FCI. What is the full form of FCI?

Options:

Food Corporation of India

Food Cooperatives of India

Food Conglomerates of India

None of the above

Correct Answer:

Food Corporation of India

Explanation:

Buffer Stock is the stock of foodgrains, namely wheat and rice, procured by the government through the Food Corporation of India (FCI).  The FCI purchases wheat and rice from the farmers in states where there is surplus production so that government can distribute foodgrains in the deficit areas and among the poorer strata of the society at a price lower than the market price. This also helps in resolving the problem of shortage of food during adverse weather conditions or during the periods of calamity.