Cabinet approves Rs 11,040-crore National Mission on Edible Oils - Oil Palm businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.
New Delhi [India], August 18 (ANI): With the aim to increase domestic production of edible oil, the Union Cabinet on Wednesday approved the implementation of National Mission on Edible Oils - Oil Palm with a financial outlay of Rs 11,040 crores.
Under National Mission on Edible Oils – Oil Palm scheme, it is proposed to cover an additional area of 6.5 lakh hectare (ha.) for oil palm till the year 2025-26 and thereby reaching the target of 10 lakh hectares ultimately.
The 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 edible oil imports.