Choose whether the given statement is True/False:

The stock of food grains procured by the government through FCI is known as buffer stock.

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Detailed Solution

The above statement is true.
Yes, the stock of food grains procured by the government through FCI, or the Food Corporation of India, is known as buffer stock. The Food Corporation of India is a statutory body that works under the consumer affairs, food, and public distribution ministries. This corporation was set up in 1965 to fulfil all the aspects of the national food policy at the time of need. It is one of the largest food supply chains in our country. This corporation aims to buy crops from poor farmers at the best price possible. Then they are distributed properly, following all the guidelines of the Public Distribution System. Also, this corporation has to maintain good quality buffer stock to ensure proper supply and help during times of need.

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