In the Union Budget speech for 2024-25, which oilseeds were noted as not being covered under the goal of "Atmanirbharta" (self-reliance) for oil?
- AOption (a)
Sesame
- BOption (b)
Coconut
- COption (c)
Soybean
- DOption (d)
Groundnut
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Correct answer
Coconut
Why this answer is correct
The Correct answer is Option 2.
Key Points
- In the Union Budget speech for 2024-25, Finance Minister Nirmala Sitharaman emphasized the government's focus on achieving self-reliance in oilseeds production as part of the "Atmanirbhar Bharat" initiative.
- The plan primarily targeted mustard, groundnut, sesame, soybean, and sunflower, with the aim of boosting domestic production of edible oils and reducing India's dependence on imports. Hence, option 2 is correct answer.
- Objective:
- Reduce the import burden on edible oils, which account for a significant share of India's import bill.
- Enhance domestic production and processing capacities for selected oilseeds.
- Specific Focus:
- Mustard, soybean, and sunflower were identified as priority crops for expanding cultivation under various schemes.
- These crops form the bulk of edible oil production in India and are critical to achieving self-reliance.
- Not Covered:
- Certain other oilseeds like palm oil were not included in the self-reliance strategy, as India imports a large portion of its palm oil requirements. Instead, palm oil is addressed through separate schemes like the National Edible Oil Mission - Oil Palm (NEOM-OP).
- Measures Announced:
- Incentives for Farmers: Subsidies and support for seeds, fertilizers, and mechanization to encourage oilseed cultivation.
- R&D in Oilseeds: Investments in research and development to improve yields and pest resistance.
- Processing Units: Establishment of processing plants closer to production hubs to add value to raw oilseeds.