NEW DELHI, Nov. 29 (Xinhua) -- The Indian government on Wednesday announced the extension of its food security scheme for five years with effect from January 2024.

The prime minister poor welfare food grains scheme benefits nearly 813.5 million beneficiaries, costing the exchequer nearly 11.80 trillion Indian Rupees (around 141.64 billion U.S. dollars) over a period of five years.

The scheme will strengthen food security and mitigate financial hardship of the poor and vulnerable sections of the population, said a statement issued by the federal cabinet.

The scheme will also provide nation-wide uniformity in the delivery of food grains free of cost in all states through a network of over 500,000 fair price shops, added the statement.