The Food Corporation of India was setup under the Food Corporation Act 1964, in order to fulfill following objectives of the Food Policy :
Effective price support operations for safeguarding the interests of the farmers.
Distribution of food grains throughout the country for public distribution system
Maintaining satisfactory level of operational and buffer stocks of food grains to ensure National Food Security
In its 50 years of service to the nation, FCI has played a significant role in India's success in transforming the crisis management oriented food security into a stable security system. FCI's Objectives are:
To provide farmers remunerative prices
To make food grains available at reasonable prices, particularly to vulnerable section of the society
To maintain buffer stocks as measure of Food Security