Government to Invest Over Rs 11,000 Crores to Make India Self-Sufficient in Edible Oils
NEW DELHI, Aug 9: The Prime Minister Narendra Modi on Monday announced a National Edible Oil Mission-Oil Palm (NMEO-OP) to make India self-sufficient in cooking oils, including palm oil, as he stressed on reducing the dependence on imports.
Addressing a virtual event on PM-Kisan scheme, he said over Rs 11,000 crore would be invested in the edible oil ecosystem. The prime minister also transferred over Rs 19.500 crores to the accounts of over 9.75 crore farmers under the government’s PM-Kisan scheme.
Modi said India has become self-sufficient or “atamnirbhar” in production of rice, wheat and sugar but it was not enough as the country was hugely dependent on imports of edible oils. The Prime Minister said the government would ensure that farmers get all facilities, from quality seeds to technology to promote farming to produce palm oil and other oil seeds.
India is dependent on imports of edible oil to meet the domestic demand. Of the total imports, palm oil constitutes about 55 per cent. The country spent thousands of crores of rupees on edible oil imports, Modi said, and added that this money rather should go to farmers.
The Prime Minister said north-eastern states and Andaman and Nicobar Islands could be promoted for palm farming.
(Manas Dasgupta)
