FCI saved ₹327 crore on storage losses in FY16
The Food Corporation of India (FCI) cut its losses towards storage of wheat and rice from 0.17% in 2013-14 to 0.15% in 2015-16, saving ₹327 crore, a statement read. The FCI also saved ₹138 crore on transit losses of wheat and rice from 2013-14 to 2015-16. Further, it saved ₹749 crore in interest cost in 2015-16 through 'sound debt management'.