New Delhi: Two days after Prime Minister Narendra Modi announced a new central scheme during his Independence Day speech, the Union Cabinet on Wednesday approved the National Mission on Edible Oils-Oil Palm (NMEO-OP) with a financial outlay of Rs 11,040 crore to promote the domestic cultivation of oil palm in the next five years, and reduce the country’s dependence on imported edible oil.
Briefing reporters, Union Information and Broadcasting Minister Anurag Thakur said the Cabinet has approved the NMEO-OP with a focus to increase the cultivation of palm trees in the northeast region and the Andaman and Nicobar Islands.
India has so far been importing large quantities of palm oil from South East Asian countries like Malaysia and Indonesia.
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, he said.
(VP)
