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New Delhi: The Union Cabinet on Thursday approved a Rs 10,103-crore incentive scheme to boost domestic production of oilseeds like mustard, groundnut, soybean, sunflower, and sesamum, to reduce dependence on imports which account for close to 60 per cent of the domestic demand for edible oil.
The scheme will be implemented on a mission mode from 2024-25 to 2030-31. The initiative named ‘National Mission on Edible Oils – Oilseeds’ aims to increase primary oilseed production from 39 million tonnes recorded in 2022-23 to 69.7 million tonnes by 2030-31.
This follows a 2021 initiative to boost oil palm cultivation. The two schemes aim to hike edible oil output to 254.5 lakh tonnes by 2030-31 meeting 72 per cent of the requirement.
India is the world’s biggest edible oil importer. Under the initiative, the government aims to boost output by ensuring availability of quality seeds and hike oilseed cultivation by 40 lakh hectares on rice and potato fallow land, promoting intercropping and crop diversification. Over 600 value chain clusters will be developed in 347 districts.