The National Mission on Edible Oils (NMEO) reflects India’s strong commitment to the vision of Atmanirbhar Bharat by aiming to transform the edible oil sector from a highly import-dependent system to a self-reliant one. The mission seeks to reduce India’s edible oil import bill while strengthening domestic production.

About the National Mission on Edible Oils

The National Mission on Edible Oils aims to strengthen the oilseed ecosystem in India and achieve self-sufficiency in edible oil production. It focuses on improving area coverage, productivity, processing efficiency, and market linkages for oilseeds and edible oils.

Targets of the Mission

The mission has set ambitious targets to be achieved by 2030–31:

• Area under oilseeds is to increase from 29 million hectares (2022–23) to 33 million hectares.

• Primary oilseed production is targeted to rise from 39 million tonnes to 69.7 million tonnes.

• Average yield is expected to improve from 1,353 kg/ha to 2,112 kg/ha.

• Domestic edible oil production is projected to reach 25.45 million tonnes.

In addition, the mission seeks to expand oilseed cultivation by 40 lakh hectares by utilizing rice and potato fallow lands.

Two-Pronged Strategy of NMEO

The National Mission on Edible Oils follows a two-pronged approach to achieve its objectives:

1. National Mission on Edible Oils – Oil Palm (NMEO-OP)

Objective

NMEO-OP focuses on expanding oil palm cultivation and increasing domestic crude palm oil (CPO) production.

Key Features

• Approved in 2021 as a Centrally Sponsored Scheme.

• Aims to enhance edible oil availability through area expansion and increased CPO production.

• Emphasizes the establishment of seed gardens and nurseries to ensure the domestic availability of quality oil palm seedlings.

Targets

• Bring 6.5 lakh hectares under oil palm cultivation by 2025–26.

• Increase crude palm oil production to 28 lakh tonnes by 2029–30.

Implementation

The mission is implemented by the Department of Agriculture and Farmers Welfare (DA&FW) as the nodal central authority.

2. National Mission on Edible Oils – Oilseeds (NMEO-Oilseeds)

Objective

NMEO-Oilseeds aims to enhance productivity, seed quality, processing capacity, and market linkages for traditional oilseed crops.

Approval and Duration

• Approved in 2024.

• Implemented for a seven-year period from 2024–25 to 2030–31.

Focus Areas

The mission focuses on increasing production of major oilseed crops such as rapeseed–mustard, groundnut, soybean, sunflower, sesamum, safflower, niger, linseed, and castor.

It also seeks to improve oil extraction from secondary sources, including cottonseed, coconut, rice bran, and Tree-Borne Oilseeds (TBOs).

Implementation and Funding Pattern

• Implemented across all States and Union Territories.

• Funding pattern:

  • 60:40 for general States, Delhi, and Puducherry.

  • 90:10 for North-Eastern and hill States.

  • 100% central funding for Union Territories and Central Agencies.

Significance of the Mission

The National Mission on Edible Oils is significant for:

• Reducing India’s dependence on edible oil imports.

• Enhancing farmers’ incomes through diversified cropping patterns.

• Strengthening food and nutritional security.

• Advancing the national goal of Atmanirbhar Bharat.

Conclusion

The National Mission on Edible Oils, through its integrated focus on oil palm expansion and oilseed productivity, represents a comprehensive strategy to achieve self-reliance in edible oil production. Strengthening domestic production under this mission is essential for building a resilient, sustainable, and self-sufficient agricultural economy.

A new defence Maintenance, Repair, and Overhaul (MRO) facility to support the C-130J Super Hercules aircraft will be established in Bengaluru. This facility will enhance self-reliance in defence aviation, reduce dependence on foreign support, and strengthen India’s maintenance ecosystem for strategic airlift platforms.

About the C-130J Super Hercules

The C-130J Super Hercules is a four-engine turboprop military transport aircraft developed by Lockheed Martin, a United States-based aerospace and security company. It serves as the principal tactical cargo and personnel transport aircraft of the US Air Force.

The C-130J is the latest and most advanced variant of the C-130 Hercules and is currently operated by 26 operators across 22 countries. The largest operators include the United States Air Force, United States Marine Corps, Australia, Canada, India, Italy, and the United Kingdom.

The Indian Air Force (IAF) currently operates 12 C-130J Super Hercules aircraft, which play a crucial role in special operations, disaster relief, and strategic airlift missions.

Key Operational Capabilities

The C-130J Super Hercules is designed for versatile and high-risk operations:

• It can operate from rough, dirt strips and is ideally suited for airdropping troops and equipment into hostile or inaccessible areas.

• The aircraft requires a minimal crew of three personnel, consisting of two pilots and one loadmaster, due to advanced automation.

• It is capable of short take-offs and landings (STOL) from unprepared runways, making it suitable for remote and forward locations.

Engine and Avionics

The aircraft is powered by four Rolls-Royce AE 2100D3 turboprop engines, providing high performance and fuel efficiency.

It features advanced digital avionics, including a Head-Up Display (HUD) for each pilot, which enhances situational awareness and flight safety, especially during low-level and night operations.

Performance Specifications

• Range: 6,852 km (without payload)

• Maximum speed: 644 km/hr

• Endurance: More than 20 hours

• Payload capacity: 19 tonnes

Cargo and Mission Flexibility

The C-130J Super Hercules can carry a wide variety of oversized cargo, including utility helicopters, six-wheeled armoured vehicles, standard palletized cargo, and military personnel.

Equipped with an Infrared Detection Set, the aircraft is capable of precision low-level flying, accurate airdrops, and landings under blackout conditions, enhancing its effectiveness in combat and special operations.

Strategic Significance for India

The establishment of an MRO facility in Bengaluru will:

• Strengthen Atmanirbhar Bharat in defence aviation.

• Improve aircraft availability and operational readiness of the IAF.

• Reduce maintenance costs and turnaround time.

• Support India’s ambition to become a regional defence MRO hub.

The Indian Rupee depreciated to a record low of ₹90.43 per US dollar, driven by foreign fund outflows and uncertainty surrounding the India–US trade deal. With a year-to-date depreciation of about 5%, the rupee has emerged as the worst-performing Asian currency in 2025.

What is Rupee Depreciation?

Rupee depreciation refers to a decline in the value of the Indian Rupee (INR) relative to major foreign currencies, particularly the US dollar. It occurs when more rupees are required to purchase one unit of foreign currency, mainly due to market-driven demand and supply forces.

Impact of Rupee Depreciation

Rupee depreciation has both positive and negative economic consequences.

Positive Impacts

• Boost to Exports: A weaker rupee makes Indian goods cheaper in international markets, benefiting export-oriented sectors such as IT services, pharmaceuticals, textiles, and engineering goods.

• Higher Value of Remittances: Non-Resident Indians (NRIs) receive more rupees per dollar remitted, encouraging higher remittance inflows.

• Domestic Production Incentive: Costlier imports can promote import substitution and encourage local manufacturing, supporting initiatives like Make in India.

Negative Impacts

• Imported Inflation: The cost of essential imports such as crude oil, fertilisers, electronics, and edible oils rises, leading to higher inflationary pressures.

• Higher Debt Servicing Costs: Indian companies and governments with foreign-currency-denominated debt must pay more rupees to service the same dollar liability.

• Widening Trade and Current Account Deficits: Even if import volumes remain unchanged, a higher import bill can widen the trade deficit and current account deficit (CAD).

• Risk of Capital Flight: Sustained depreciation can reduce foreign investor confidence, triggering further outflows from equity and debt markets.

• Reduced Consumer Purchasing Power: Rising prices of imported goods weaken domestic consumption and demand.

Devaluation vs Depreciation of Currency

Factors Causing Rupee Depreciation

The depreciation of the Indian rupee is the result of a combination of external shocks, trade imbalances, and capital flow pressures.

1. Sustained FPI Outflows

Foreign Portfolio Investors (FPIs) have withdrawn over ₹1.48 lakh crore since January 2025, reallocating capital to markets offering higher returns and lower risk.
At the same time, rising global geopolitical uncertainties have increased demand for the US dollar as a safe-haven currency, putting downward pressure on the rupee.

2. US–India Trade Deal Uncertainty

Delays in finalising the India–US trade agreement have created uncertainty regarding future tariffs, market access, and export competitiveness.
This uncertainty has weakened investor confidence in India’s external sector prospects, contributing to rupee depreciation.

3. Higher Dollar Demand from Importers

Rising imports—particularly gold, electronics, and capital machinery—have increased demand for US dollars.
As importers buy more dollars to settle payments, the demand–supply imbalance in the forex market has accelerated rupee depreciation.

4. Widening Trade Deficit

India’s merchandise exports declined by 11.8% in October 2025, while imports surged by 16.6%.
The simultaneous fall in exports and rise in imports has significantly widened the trade deficit, increasing pressure on the rupee.

5. High Crude Oil Prices

Elevated Brent crude oil prices have expanded India’s oil import bill, worsening the trade deficit.
Since India is a net oil importer, higher crude prices directly weaken the rupee.

6. Surge in Gold Imports

Gold imports increased by nearly 200% in October 2025, driven by high domestic demand and price volatility.
Although higher gold prices raised the nominal value of gold reserves, this gain was insufficient to offset the sharp rise in the import bill, thereby widening the current account deficit (CAD) and adding to depreciation pressures.

How Can the Indian Rupee Be Strengthened?

A combination of external sector reforms, rupee internationalisation, and domestic macroeconomic stability is required to strengthen the rupee.

1. Expand Rupee-Based Trade Settlement

India should scale up Special Vostro Rupee Accounts (SVRAs) with more trading partners to reduce dependence on the US dollar.
Promoting Local Currency Settlement (LCS) agreements with countries in Asia, Africa, and the Gulf can lower dollar demand in trade.
Bilateral MoUs for INR-based invoicing and payments should be increased.

2. Deepen the Global Market for INR

Developing a 24×7 global forex market for the Indian rupee will allow international banks to trade INR more actively.
Supporting the inclusion of Indian government securities (G-secs) in major global bond indices can attract stable, long-term foreign inflows.
Simplifying KYC norms and onboarding processes for FPIs and global custodians will improve investor participation.

Enabling Indian banks to lend in INR to non-residents and promoting Masala Bonds will further expand offshore rupee usage.

3. Strengthen External Sector Stability

India should expand currency swap agreements to ensure liquidity support during periods of volatility.
Maintaining strong foreign exchange reserves and ensuring calibrated RBI intervention can help manage excessive currency fluctuations.
Export competitiveness should be enhanced through structural reforms, not merely through currency depreciation.

4. Boost Global Acceptance of the Rupee

The international expansion of UPI-based digital payments can increase global acceptance of the rupee.
Efforts should continue to position the rupee for inclusion in the IMF’s Special Drawing Rights (SDR) basket, enhancing its credibility as a potential reserve currency.

5. Domestic Reforms to Support a Strong Rupee

Reducing the trade deficit by diversifying export markets and promoting high-value manufacturing is essential.
Gold imports can be curbed through gold monetisation schemes and digital gold alternatives.
Maintaining low inflation, fiscal discipline, and policy stability will attract sustained capital inflows and support currency strength.

Conclusion

The rupee’s depreciation is driven by weak exports, high imports, volatile commodity prices, and sustained capital outflows. Strengthening the currency requires a multi-pronged strategy focused on export competitiveness, reduced import dependence, rupee internationalisation, and stable macroeconomic policies. Over time, these measures will help restore confidence and ensure long-term stability of the Indian rupee.

The Enforcement Directorate (ED) has issued show-cause notices to senior political leaders in Kerala for the alleged violation of the Foreign Exchange Management Act (FEMA) and Reserve Bank of India (RBI) directions in connection with the issuance of Masala Bonds. This has brought renewed attention to the regulatory framework governing these instruments.

What are Masala Bonds?

Masala Bonds are rupee-denominated bonds issued by Indian entities to overseas investors to raise funds from international markets.
Although issued abroad, the bond value and interest payments are denominated in Indian Rupees (INR).

A key feature of Masala Bonds is that the foreign exchange risk is borne by the foreign investor, not the Indian issuer. This protects Indian borrowers from losses caused by rupee depreciation.

Origin and Objective

The term “Masala Bond” was introduced by the International Finance Corporation (IFC), drawing from India’s cultural identity, where “masala” refers to a spice blend.

The primary objectives of Masala Bonds are:

• To enable Indian entities to raise foreign capital without exposure to forex risk

• To promote the internationalisation of the Indian Rupee

The first Masala Bond was issued by the IFC in November 2014 and was listed on the London Stock Exchange.

Regulatory Framework

Masala Bonds are governed by:

• RBI guidelines under the External Commercial Borrowing (ECB) framework, and

• SEBI regulations, wherever applicable.

They are generally listed on international exchanges such as the London Stock Exchange (LSE) or the Singapore Exchange, which helps attract global investors.

Maturity Norms

According to RBI guidelines:

• The minimum maturity period is 3 years for bonds raising up to USD 50 million (or equivalent).

• For amounts exceeding this limit, the minimum maturity period is 5 years.

Eligible Issuers and Investors

Eligible Issuers

• Indian corporates

• Non-Banking Financial Companies (NBFCs)

• Government-affiliated and public sector entities

Eligible Investors

Masala Bonds are aimed at qualified foreign investors, including:

• Sovereign wealth funds

• Global pension funds

• Insurance companies

These investors are willing to take on rupee-denominated currency risk.

Permitted and Restricted Use of Funds

Permitted Uses

Funds raised through Masala Bonds may be used for:

• Refinancing existing rupee-denominated debt

• Infrastructure development

• Affordable housing and integrated townships

• Corporate working capital requirements

Restricted Uses

The funds cannot be used for:

• Real estate activities (except approved housing projects)

• Activities prohibited under FDI guidelines

• Investment in domestic capital or equity markets

• Purchase of land or on-lending for restricted activities

Similar International Bond Instruments

Masala Bonds are comparable to other global local-currency bond instruments:

• Dim Sum Bonds (China): RMB-denominated bonds issued outside mainland China

• Panda Bonds (China): RMB-denominated bonds issued in mainland China by foreign entities

• Samurai Bonds (Japan): Yen-denominated bonds issued in Japan by foreign issuers

• Yankee Bonds (USA): US dollar-denominated bonds issued in the US by foreign entities

• Kangaroo Bonds (Australia): Australian dollar-denominated bonds issued by foreign firms in Australia

More suspected cases of Bluetongue Virus (BTV) have recently been detected in Northern Ireland, raising concerns about the spread of this vector-borne animal disease affecting livestock.

About Bluetongue Virus

The Bluetongue Virus (BTV) is responsible for causing bluetongue disease (BT), a severe haemorrhagic disease of ruminant animals.
It is an infectious but non-contagious disease, meaning it does not spread directly from animal to animal.

Bluetongue primarily affects domestic ruminants, including sheep, cattle, and goats, and can also infect wild ruminants such as buffalo, deer, antelope, and camels. Among domestic animals, sheep are the most severely affected.

BTV is found on all continents except Antarctica, indicating its wide geographical distribution.

Mode of Transmission

Bluetongue Virus is mainly transmitted through the bite of infected Culicoides midges, which are tiny blood-feeding insects commonly found on farms.

In some cases, certain strains of BTV can be transmitted vertically, from an infected mother to her fetus during pregnancy.

Human Health and Food Safety

Bluetongue Virus does not infect humans.
There are no food safety concerns, and meat and dairy products from infected animals are safe for human consumption.

Clinical Signs of Bluetongue Disease

Clinical symptoms are most commonly seen in sheep and occasionally in deer. The disease can be fatal in severe cases.

Key clinical signs include:

• High fever ranging from 40°C to 42°C

• Swelling of the lips, tongue, and head

• Nasal discharge

• Lameness

• Reddening around the coronary band (top of the hoof)

In some animals, the tongue may appear swollen and bluish in colour, which gives the disease its name. However, this sign is not always present and should not be solely relied upon for diagnosis.

Impact on Livestock and Economy

Bluetongue disease can result in high morbidity and mortality rates in flocks and herds.
It adversely affects livestock productivity, including reduced milk yields, and can disrupt domestic and international trade due to movement restrictions.

Treatment and Prevention

There is no effective treatment for bluetongue disease. Management is mainly supportive and focused on vector control.

However, vaccines are available for certain strains of BTV and are used in Africa, Asia, and parts of Europe to control the disease.