National Mission on Edible Oils
Approved by Union Cabinet.
The Mission will be implemented over a seven-year period, from 2024-25 to 2030-31, with a financial outlay of Rs 10,103 crore. The mission focuses on
1. Enhancing the production of key primary oilseed crops such as Rapeseed-Mustard, Groundnut, Soybean, Sunflower, and Sesamum
2. Increasing collection and extraction efficiency from secondary sources like Cottonseed, Rice Bran, and Tree Borne Oils
3. Targets to increase domestic edible oil production to 25.45 million tonnes by 2030-31 meeting around 72% of our projected domestic requirement. This will be achieved by promoting adoption of high-yielding high oil content seed varieties, extending cultivation into rice fallow areas, and promoting intercropping.
4. Over 600 Value Chain Clusters will be developed across 347 unique districts which will be managed by value chain partners such as FPOs, cooperatives, and public or private entities
5. The Mission will harness ongoing development of high-quality seeds by using cutting-edge global technologies such as genome editing.
6. The Mission aims to significantly enhance domestic oilseed production, advancing the goal of Atmanirbharta (self-reliance) in edible oils, thereby reducing import dependency and conserving valuable foreign exchange while boosting farmers' incomes.
7. It will also accrue significant environmental benefits in the form of low water usage and improved soil health and making productive use of crop fallow areas.
Note: Presently the country is heavily reliant on imports which account for 57% of its domestic demand for edible oils.
Approved by Union Cabinet.
The Mission will be implemented over a seven-year period, from 2024-25 to 2030-31, with a financial outlay of Rs 10,103 crore. The mission focuses on
1. Enhancing the production of key primary oilseed crops such as Rapeseed-Mustard, Groundnut, Soybean, Sunflower, and Sesamum
2. Increasing collection and extraction efficiency from secondary sources like Cottonseed, Rice Bran, and Tree Borne Oils
3. Targets to increase domestic edible oil production to 25.45 million tonnes by 2030-31 meeting around 72% of our projected domestic requirement. This will be achieved by promoting adoption of high-yielding high oil content seed varieties, extending cultivation into rice fallow areas, and promoting intercropping.
4. Over 600 Value Chain Clusters will be developed across 347 unique districts which will be managed by value chain partners such as FPOs, cooperatives, and public or private entities
5. The Mission will harness ongoing development of high-quality seeds by using cutting-edge global technologies such as genome editing.
6. The Mission aims to significantly enhance domestic oilseed production, advancing the goal of Atmanirbharta (self-reliance) in edible oils, thereby reducing import dependency and conserving valuable foreign exchange while boosting farmers' incomes.
7. It will also accrue significant environmental benefits in the form of low water usage and improved soil health and making productive use of crop fallow areas.
Note: Presently the country is heavily reliant on imports which account for 57% of its domestic demand for edible oils.
The Union Cabinet extended the “classical language” tag to Marathi, Pali, Prakrit, Assamese, and Bengali. Tamil, Sanskrit, Telugu, Kannada, Malayalam, and Odia already enjoy this status.
Ratan Tata, a titan of Indian industry, takes his final bow - The Hindu
https://www.thehindu.com/business/Industry/ratan-tata-former-tata-sons-chairman-is-no-more/article68738056.ece
https://www.thehindu.com/business/Industry/ratan-tata-former-tata-sons-chairman-is-no-more/article68738056.ece
The Hindu
Ratan Tata, a titan of Indian industry, takes his final bow
Ratan Tata, veteran industrialist and former Tata Sons chairman, died at a Mumbai hospital on October 9. He was 86.
Indian PM attended East Asian Summit in October 2024. key initiatives were taken in the summit.
The East Asia Summit (EAS) process was initiated in 2005 with 16 participating countries, namely the ASEAN Member States, Australia, China, India, Japan, New Zealand, and the Republic of Korea. The United States and the Russian Federation joined later on.
It refers to the Meeting of Heads of State/Governments of these countries and is convened annually.
The East Asia Summit (EAS) process was initiated in 2005 with 16 participating countries, namely the ASEAN Member States, Australia, China, India, Japan, New Zealand, and the Republic of Korea. The United States and the Russian Federation joined later on.
It refers to the Meeting of Heads of State/Governments of these countries and is convened annually.
The Direct tax to total tax revenue increased to 56.72% in FY24, the share of Indirect Tax came down to 43.28%. This increase in direct tax is highest in 14 years.
The higher share of direct taxes is considered progressive whereas increased share of indirect taxes impacts the poor more.
Also the income tax collections wrte higher than Corporate tax ( corporate tax for all existing companies was cut to 22% from 30% & 15% for newly incorporated domestic companies).
The increase in income tax collections is accompanied by increase in returns filed, income tax return filers & tax payers.
#IndianEconomy #GS
The higher share of direct taxes is considered progressive whereas increased share of indirect taxes impacts the poor more.
Also the income tax collections wrte higher than Corporate tax ( corporate tax for all existing companies was cut to 22% from 30% & 15% for newly incorporated domestic companies).
The increase in income tax collections is accompanied by increase in returns filed, income tax return filers & tax payers.
#IndianEconomy #GS
Paryatan Mitra and Paryatan Didi yojana launched on the ocassion of World Tourism day by Ministry of Tourism.