Union Cabinet okays national mission to set up domestic production of edible oil

By Jasleen Kaur - August 18, 2021 5:08 pm

To increase the domestic production of edible oil, the Union Cabinet on Wednesday approved the implementation of the National Mission on Edible Oils-Oil Palm with a financial outlay of Rs 11,040 crore.

The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday gave its approval to launch a new mission on oil palm to be known as the National Mission on Edible Oils -Oil Palm (NMEO-OP) as a new centrally sponsored scheme with a special focus on the Northeast region and the Andaman and Nicobar Islands.

Cabinet Approves National Mission On Edible Oils To Boost Palm Oil Production

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Union Agriculture Minister Narendra Singh Tomar said, "Due to heavy dependence on imports for edible oils, it is important to make efforts for increasing the domestic production of edible oils in which increasing area and productivity of oil palm plays an important part."

Palm oil, edible

He said the Union Cabinet had approved the implementation of the National Mission on Edible Oils-Oil Palm with a financial outlay of Rs 11,040 crore. The focus was on increasing the area and productivity of oilseeds and oil palm. This would increase capital investment, help generate employment, reduce dependence on imports and increase the income of farmers, he added.

Under the scheme, a financial outlay of Rs 11,040 crore has been made for the scheme, out of which Rs 8,844 crore is the Central Government share and Rs 2,196 crore is the state share and this includes the viability gap funding also.

Cabinet nod for Rs 11,040-crore National Mission on edible oils-oil palm - The Financial Express

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Union Minister Anurag Thakur said the government was emphasising on Atmanirbhar Bharat so that dependence on imports could be reduced. "India is now among the top 10 countries in the world in the field of agriculture field. This has been achieved for the first time. In today's Cabinet meeting, the focus was also given on the Act East Policy. A revival package of 70.45 crore will be allocated for North Eastern Regional Agriculture Marketing Corporation Limited to boost the agricultural sector in the northeast," Thakur said.

-PTC News with inputs from ANI

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