Business Summit on National Mission on Edible Oils-Oil Palm in NE states

On October 6, 2021, “National Mission on Edible Oil- Oil Palm Business Summit” was held at Guwahati for North Eastern States.

Highlights

• The summit was organised in line with Prime Minister’s vision for holistic and balanced progress of North East.
• Summit was started under the chairmanship of Union Agriculture Minister Narendra Singh Tomar.
• Summit showcases a film on oil palm plantation along with the watering of the oil palm plant.

Significance of the oil palm for NE

Government decision to make major intervention in North Eastern states for the promotion of oil palm will turn NE states into oil palm hub of India. Special package and assistance for North Eastern states will change the socio-economic status of farmers. It will also open up the employment opportunities as it will set up oil palm mills along with infrastructure development.

Aim of the summit

Business summit is being organised with the aim of exploring:

1. The target of area expansion,
2. Details of viability gap payment,
3. Seedling requirement fixed for different states using processors
4. Details of viability gap payment
5. Interventions and assistance under the National Mission on Edible Oil.

Outlay of National Mission on Edible Oil

This Mission is being launched with a total outlay of Rs 11040 crore. It will bring an additional area of about 6.5 lakh hectares under Oil Palm plantation in next five years. Out of this, 3.28 lakh hectares will be from North Eastern states while 3.22 lakh hectares will be from rest part of India.

Month: Current Affairs - October, 2021