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Fisheries and Aquaculture Infrastructure Development Fund (FIDF)

  Jun 08, 2020

Fisheries and Aquaculture Infrastructure Development Fund (FIDF)

Why was the FIDF set up?

The government approved Rs 7,500 crore fund for creating infrastructure facilities in fisheries and aqua­culture sector to help boost annual fish production to 20 million tonnes by 2022­-23 and generate over 9.40 lakh employment opportunities. 

Fisheries and Aquaculture Infrastructure Development Fund (FIDF) has contributions from National Bank for Agriculture and Rural Development (NABARD), National Cooperatives Development Corporation (NCDC) and scheduled banks.

FIDF would provide concessional finance to state governments/UTs and state entities, cooperatives, individuals and entrepreneurs etc, for taking up of the identified investment activities of fisheries development. 

Under FIDF, loan will be for over a period of five years from 2018­-19 to 2022­-23 and maximum repayment will be over a period of 12 years inclusive of moratorium of two years on repayment of principal. 

This fund would help in creation of fisheries infrastructure facilities both in marine and inland fisheries sectors, which would boost fish production.

This fund would create employment opportunities to over 9.40 lakh fishers/ fishermen/fisher folk and other entrepreneurs in fishing and allied activities. 

It would help attract private investment in creation and management of fisheries infrastructure facilities.

Fisheries and Aquaculture Infrastructure Development Fund (FIDF) aims to fill the large infrastructure gaps in fisheries sector in the country through 

What is the current fish production in the country and what are the government targets?

India's fish production is estimated at around 12 million tonnes annually. 

The government aims to achieve a sustainable growth of 8­-9 per cent, so that fish production reaches to the level of about 20 million tonnes by 2022-­23. 

What is the new Ministry set up recently and why is it important? 

A new Ministry of Fisheries, Animal Husbandry and Dairying was created in 2019 with independent Department of Fisheries. First time, there is an independent department for fisheries. 

When was Pradhan Mantri Matsya Sampada Yojana (PMMSY) started and with what objectives? 

Pradhan Mantri Matsya Sampada Yojana (PMMSY) was started in 2019-20 Union Budget under the new Department of Fisheries for a robust fisheries management framework. This will address critical gaps in the value chain, including infrastructure, modernisation, traceability, production, productivity, post-harvest management, and quality control," 

Economic Survey 2018-19 called for "greater emphasis" on allied sectors with a major focus on dairy, poultry and fisheries in order to transform the rural economy.

Why is there emphasis on Blue revolution?

The Blue Revolution is being implemented to achieve economic prosperity of fishermen and fish farmers and to contribute towards food and nutritional security through optimum utilization of water resources for fisheries development in a sustainable manner, keeping in view the bio-security and environmental concerns. 

Under the scheme, it has been targeted to enhance the fish production from 107.95 lakh tonnes in 2015-16 to about 150 lakh tonnes by the end of the financial year 2019-20. It is also expected to augment the export earnings with a focus on increased benefit flow to the fishers and fish farmers to attain the target of doubling their income. 

The Department has prepared a detailed National Fisheries Action Plan-2020(NFAP) for the next 5 years with an aim of enhancing fish production and productivity and to achieve the concept of Blue Revolution. The approach was initiated considering the various fisheries resources available in the country like ponds & tanks, wetlands, brackish water, cold water, lakes & reservoirs, rivers and canals and the marine sector. 

Realizing the immense scope for development of fisheries and aquaculture, the Government of India has restructured the Central Plan Scheme under an umbrella of Blue Revolution. The restructured Central Sector Scheme on Blue Revolution: Integrated Development and Management of Fisheries (CSS) approved by the Government provides for a focused development and management of the fisheries sector to increase both fish production and fish productivity from aquaculture and fisheries resources of the inland and marine fisheries sector including deep sea fishing.