New Delhi, Aug 19 (IANS): Union minister for the Development of North Eastern Region (DoNER), G. Kishan Reddy, said on Thursday that the revival of North Eastern Regional Agricultural Marketing Corporation Limited (NERAMAC) along with the Oil Palm Mission will contribute in doubling the income of farmers in the Northeast region.

"The revival of NERAMAC will ensure remunerative prices for the Northeast farmers and provide better farming facilities and training to them," he said.

The Oil Palm Mission aims to increase additional area under cultivation by 6.5 lakh hectares, thereby reaching the target of 10 lakh hectares in the next five years.

"India is the largest edible oil importer in the world and imports 133.50 lakh tonnes costing Rs 80,000 crore. The decision taken under Prime Minister Narendra Modi's leadership will help us be self-reliant besides cutting our import bill, thus contributing to his vision of 'Aatmanirbhar Bharat'," the minister said.

He also said that the government has identified the Northeastern region as a special focus area and the target set for the region in the next five years is more than 50 per cent of the overall target of 6.5 lakh hectares set for the entire nation.

Highlighting the experience of states like Mizoram, which ranks among the top five cultivators of oil palm in the country, Reddy said, "The farmers of states such as Mizoram already have significant oil palm cultivation experience and we can leverage their expertise in the rest of the Northeastern states."

The Cabinet Committee on Economic Affairs (CCEA) had on Thursday approved a package of Rs 77.45 crore for the revival of NERAMAC, a central public sector enterprise under the DoNER ministry.