The Government is estimated to save 1,600 crore rupees annually in procurement of foodgrains as its tax expenses have reduced after the introduction of GST. Food Minister Ram Vilas Paswan today said, only GST is being levied on procurement and not state taxes, resulting in 18 per cent reduction in taxes on foodgrain procurement. He added that the Centre is expected to save 1,600 crore rupees annually.On capital restructuring in Food Corporation of India (FCI) as announced in the Union Budget 2018-19, Mr Paswan said, the government will infuse equity in the FCI next fiscal to reduce interest burden. FCI will also issue long-term bonds.Asked about impact on inflation from proposed increase in the minimum support price (MSP) by 1.5 times, the minister said that there would be no impact on common man as the government is providing wheat and rice at 2-3 rupees per kilogram to over 80 crore people of the country. Mr Paswan informed that budget allocation for food ministry has also been increased in this fiscal.