Explanation:

The Food Corporation of India was setup under the Food Corporation's Act 1964 , in order to fulfill following objectives of the Food Policy:

1. Effective price support operations for safeguarding the interests of the farmers.

2. Distribution of foodgrains throughout the country for public distribution system.

3. Maintaining satisfactory level of operational and buffer stocks of foodgrains to ensure National FoodSecurity

Since its inception, FCI has played a significant role in India's success in transforming the crisis managementoriented food security into a stable security system