New Delhi: Union Cabinet on Wednesday approved the National Mission RS 11,040 Crore in oil palm oil that can be eaten (NMEO-OP) to reduce dependence on imported vegetable oil.
In media interactions after the cabinet meeting, information and the Minister of Broadcasting Anurag Thakur said that the scheme would have a special focus in the northeastern region and the Andaman and Nicobar Islands.
This plan focuses on increasing areas under oil seed oil, increasing palm oil productivity and helping oil gardens.
It will also help utilize a large potential area and reduce import dependence on palm oil, the Minister said.
This scheme also provides price guarantees to oil palm farmers for fresh fruit bunches.
“Because of the heavy dependence on imports for edible oil, it is important to make efforts to increase oil production that can be eaten where the increasing area and oil palm productivity play an important role,” said Thakur.
The decision came after Prime Minister Narendra Modi announced a new major scheme on August 15 during his independence day speech at Fort Red.