Agri Busines

Cabinet approves national edible oil mission for oil palm

Our Burea New Delhi | Updated on August 18, 2021

Mission will seek to reduce India’s dependence on imports

The Union Cabinet on Wednesday approved the Rs 11,000-crore National Edible Oil Mission - Oil Palm (NEOM-OP) to help reduce India's dependence on imports to meet its edible oil requirement.

Under the mission, oil palm cultivation will be encouraged and promoted in the north-eastern States and the Andaman and Nicobar Islands, apart from other States. The funding of the mission will be shared 60:40 by the Centre and States in general, but in the north-eastern States it would be 90:10, with the Centre spending the lion's share.

Last week, while disbursing the latest instalment of the PM-KISAN scheme, Prime Minister Narendra Modi had first announced the NEOM-OP.

Published on August 18, 2021

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