FM announces plan to make India self-reliant in edible oils sector

New Delhi, DHNS: Finance Minister Nirmala Sitharaman on Thursday announced that the government will formulate a strategy to make India self-reliant in the edible oils sector by boosting the domestic output of oilseeds and launching a comprehensive programme to support dairy farmers.

Presenting the interim Budget, she said the government will step up efforts for value addition in the agricultural sector and boost farmers' income.

"Farmers are our annadata. Every year, under PM-KISAN SAMMAN Yojana, direct financial assistance is provided to 11.8 crore farmers, including marginal and small farmers. Crop insurance is given to 4 crore farmers under PM Fasal Bima Yojana. These, besides several other programmes, are assisting annadata in producing food for the country and the world," the minister highlighted.

"Electronic National Agriculture Market has integrated 1,361 mandis, and is providing services to 1.8 crore farmers with trading volume of Rs 3 lakh crore," she said.

The finance minister said the government will further promote private and public investment in post-harvest activities to boost food processing levels and farmers' income. Application of nano-liquid DAP (di-ammonium phosphate), a key fertiliser, will be expanded to all agro-climatic zones.

"Building on the initiative announced in 2022, a strategy will be formulated to achieve atmanirbharta for oilseeds, such as mustard, groundnut, sesame, soybean, and sunflower. This will cover research for high-yielding varieties, widespread adoption of modern farming techniques, market linkages, procurement, value addition, and crop insurance," she said.

For dairy development, she said a comprehensive programme for supporting dairy farmers will be formulated.

"The programme will be built on the success of existing schemes, such as the Rashtriya Gokul Mission, National Livestock Mission, and Infrastructure Development Funds for dairy processing and animal husbandry," the minister said.

She highlighted that the Pradhan Mantri Kisan Sampada Yojana has benefitted 38 lakh farmers and generated 10 lakh employment.

Pradhan Mantri Formalisation of Micro Food Processing Enterprises Yojana has assisted 2.4 lakh SHGs and 60,0000 individuals with credit linkages. Other schemes are complementing the efforts for reducing post-harvest losses and improving productivity and incomes.

In the fisheries sector, the finance minister said the government has set up a separate Department for Fisheries, realising the importance of assisting fishermen.

"This has resulted in a doubling of both inland and aquaculture production. Seafood exports since 2013-14 have also doubled," she said.

She announced that the implementation of Pradhan Mantri Matsya Sampada Yojana will be stepped up to enhance aquaculture productivity from existing 3 to 5 tonnes per hectare, double exports to Rs 1 lakh crore and generate 55 lakh employment opportunities in the near future. Five integrated aquaparks will also be set up.