Hyderabad: Chief Minister K. Chandrashekhar Rao has approved the Oil Palm Crop Extension project at a cost of Rs 4,800 Crore.
The CM declared that farmers would be given 50 per cent subsidy to cultivate the Oil Palm in the State. He said Oil palm cultivation is possible only in the areas where there is a continuous availability of water for cultivation.
Due to increase in irrigation water facility and 24×7 uninterrupted power supply in the State, the CM urged the farmers to utilise the opportunity and go in for oil palm cultivation in a big way.
The CM disclosed that the national Reassessment Committee of Government of India had identified 25 districts in the State as convenient for cultivating the Oil Palm.
The CM held a review meeting on the methods to increase Oil Palm cultivation in the State on Monday at Pragathi Bhavan.
Agriculture Minister Niranjan Reddy, Principal Secretary Janardhan Reddy, Horticulture Corporation MD Venktramreddy and Seed Corporation MD Keshavulu participated. (INN)