ANNOUNCEMENT 03 Oct 2013In October 2013, the government of India announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
On 3 October 2013, the Indian Cabinet Committee for Economic Affairs approved the National Mission on Oilseeds and Oil Palm (NMOOP) for the remaining three years of the 12th plan period (2014-15 to 2017-18) with a budget of INR 3507 crores (~USD 562 million*).
The mission consists of three initiatives aimed at enhancing production of oilseeds, oil palm and tree borne oilseeds, in order to meet the growing demand for edible oil and reduce dependence on imports.
The GTA includes state guarantees and other financial incentives thatare likely to affect the restructuring and performance of firms facinginternational competition, whether from imports, in export markets, andfrom foreign subsidiaries.
* INR to USD conversion as on 20 February 2014 @ INR 62.38/USD