On August 9, 2021, Prime Minister Narendra Modi virtually announced National Edible Oil Mission-Oil Palm (NMEO-OP) scheme for increasing the production of cooking/ edible oil in the country. The main aim of this scheme is to boost domestic production. It tends to curb imports of edible oil and transferring the same benefit to the farmers. Under this scheme the farmers will be provided with required facilities, seeds, technology, etc., to produce palm oil and other seeds. It will reduce the dependency of the country on oil imports. This is a crucial step in making India self sufficient in the production of edible oil. Total outlay for this scheme is Rs. 11,000 crores.
|Scheme name||National Edible Oil Mission-Oil Palm (NMEO-OP) Scheme|
|Scheme Under||Central Government|
|Launch Date||August 9, 2021|
|Launched By||Prime Minister Narendra Modi|
|Major Objective||To boost domestic edible oil production making India self-sufficient thus reducing the dependency on oil imports.|
|Budget allocated||Rs. 11,000 crores|
Scheme Objectives and Benefits:
- The main objective of the scheme is to increase domestic edible oil production
- It aims at reducing the dependency on oil imports.
- This scheme will enable to generate employment opportunities
- Under this scheme farmers will be provided with required facilities, quality seeds, technology, etc., for increasing the edible/palm oil production.
- Farmers will be able to bring their produce in the market and earn first hand benefits.
- This scheme will also enable increased productivity and innovation
- National Edible Oil Mission-Oil Palm (NMEO-OP) Scheme is launched by Prime Minster Narendra Modi on August 9, 2021.
- This scheme is mainly launched for increasing the production of cooking/ edible oil in the country.
- It tends to increase the domestic availability of oil in the country.
- During the launch PM stated that India is now self sufficient in production of rice, wheat and sugar but edible oil is still not produced in sufficient quantities in the country.
- Production of palm oil does not match the demand of palm oil in the country.
- Thus, India has to import palm oil from other countries and a large chunk of money goes in such imports.
- Therefore, now the government has decided to promote the domestic oil production in the country so that the increased demand is matched as well as benefit goes to the farmers directly.
- Under this scheme farmers will be provided with required facilities, quality seeds, technology, etc.,
- It will help in farming and thereby increase the edible/palm oil production.
- Farmers will deal in the market and thereby will be able to earn more revenue.
- It also tends to increase employment and self-employment opportunities especially in the rural areas.
- This scheme aims to reduce the dependency of the country on edible oil imports.
- Total budget allocated for this scheme is Rs. 11,000 crores.
- It is a vital step towards Aatmanirbhar Bharat.