Moneycontrol PRO
Sansaar
HomeNewsEconomyPolicyGovernment allows states to procure three months of foodgrains on credit from FCI

Government allows states to procure three months of foodgrains on credit from FCI

The move is expected to ensure that the states do not face any cash constraint in distributing food to those in need.

March 23, 2020 / 20:34 IST

In order to maintain smooth supply of foodgrains in the country amidst the Covid-19 breakout, state governments will be able to procure 3 months supply of foodgrains on credit from Food Corporation of India (FCI).

"To ensure adequate supply of foodgrains to the public and  financially assist the State Govts, Department of Expenditure has agreed to the Food & Public Distribution Department's proposal that foodgrains for 3 months can be lifted by States/ UTs on credit from FCI," the ministry of finance announced.

Track this blog for latest updates on the coronavirus outbreak

The move is expected to ensure that the states do not face any cash constraint in distributing food to those in need.

On the same day, Prime Minister Narendra Modi also said that the informal sector will be hit due to the coronavirus outbreak.

COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more
Show

Modi had earlier also announced the setting up of a task force to be headed by the Finance Minister to combat the economic fallout of the pandemic

Moneycontrol News
first published: Mar 23, 2020 08:32 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347