Cabinet approves implementation of National Mission on Edible Oils – Oil Palm

The Union Cabinet has given 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 North East region and the Andaman and Nicobar Islands. A financial outlay of Rs 11,040 crore has been made for the scheme, out of which Rs

8,844 crore is the share of the Government of India and Rs 2,196 crore of the State share, which includes the viability gap funding also. Under this scheme, it is proposed to cover an additional area of 6.5 lakh hectares (ha.) for oil palm till the year 2025-26 and thereby reaching the target of 10 lakh hectares ultimately. The scheme will immensely benefit the oil palm farmers, increase capital investment, create employment generation, shall reduce the import dependence and also increase the income of the farmers.