Government Schemes to Promote Fish Farming in India 2024

Table of Contents

• Introduction
• Current Scenario of Fisheries Industry
• Government Schemes to Promote Fish Farming in India
  • Fisheries And Aquaculture Infrastructure Development Fund (FIDF)
  • Pradhan Mantri Matsya Sampada Yojana (PMMSY)
  • Blue Revolution Scheme
  • Kisan Credit Card
• State Government Schemes to Promote Fish Farming in India
  • Integrated Fisheries Development Scheme (IFDS)
  • Palk Bay Scheme
• Conclusion

Introduction

India has a vast coastline and inland water bodies, making it an ideal location for fish farming, which can significantly contribute to the country's economic growth and food security. The fishing industry in India is growing, and the government's involvement and assistance through different schemes are significant contributors to this growth. This blog discusses the various government schemes to promote fish farming in India.

Current Scenario of Fisheries Industry

India holds 7.58 per cent of the global fish production, ranking it among the top global players. The fisheries industry in India is growing, and it witnessed an annual growth of 10.88 per cent from 2014-15 to 2018-19. Aquaculture and fisheries are crucial sources of employment, income, food and nutrition. This sector offers livelihood directly to around 2.5 crore fish farmers and indirectly to double the number involved in the value chain.

As fish is an affordable and healthy source of animal protein, it helps mitigate nutrient deficiency and hunger to a significant extent. Additionally, it has the potential to improve the economic condition of the people involved by increasing income and bringing prosperity to the stakeholders. Hence, supporting the fishing industry through focused attention and relevant policies becomes crucial. These will help boost the overall development responsibly and sustainably.

Government Schemes to Promote Fish Farming in India

The government of India has introduced several schemes to promote fish farming and tackle its associated challenges.

Fisheries And Aquaculture Infrastructure Development Fund (FIDF)

• Set up by the Department of Fisheries, Ministry of Fisheries, Animal Husbandry & Dairying, Government of India in 2018-19, this fund addresses the marine and inland fisheries sector's requirements regarding modernisation and infrastructure development.
• The initial size of the fund was 7522.48 crore, and the time period dedicated to it was from 2018-19 to 2022-23. However, the government has added 3 more years to this scheme till 2025-26 with an additional budget support of 939.48 crore.
• A wide range of activities are targeted under this fund, like establishing fishing harbours and fishing landing centres, modern fish market development, hatcheries and aquaculture development, setting up brood banks and fish transport facilities, construction of cold storages, and several others.
• The loan eligibility under this fund is up to 80 per cent of the project's actual cost. This fund also offers up to 3 per cent annually for developing the infrastructure related to fisheries. The beneficiaries are expected to contribute a minimum of 20 per cent of the total project cost.
• The FIDF scheme applies in all UTs and states and has no limits for the area or number of units. It has a maximum 12 years of repayment period, including the 2 year moratorium on the principal's repayment.

Pradhan Mantri Matsya Sampada Yojana (PMMSY)

• Set up by the Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying, Government of India in 2020-21, this scheme is operational till 2024-25.
• It is an umbrella scheme with two components: Centrally Sponsored Scheme and Central Sector Scheme. The former includes beneficiary-oriented and non-beneficiary-oriented activities, whereas the latter consists of support to government entities.
• It aims to develop India's fisheries sector sustainably and responsibly. The additional objective involves enhancing fish production, offering social and economic security to fish farmers and fishers, doubling their income, and modernising the value chain.
• Different beneficiaries of this scheme include individuals with a background in the fishing sector, private firms and entrepreneurs, and states and UTs.
• The central government bears the total cost under the Central Sector Scheme. In non-beneficiary-oriented activities, the project cost is divided between central and state governments, and it is similar in beneficiary-oriented activities also.

Blue Revolution Scheme

• Blue Revolution Scheme was initiated by the National Fisheries Development Board (NFDB) in 2015. It is focused on developing the fishing units and covers diverse multi-dimensional activities such as improving productivity and production of aquaculture, promoting fishing among backward sections, encouraging entrepreneurship in fishing, and private investment.
• It supports food and nutrition security. It also enhances the economic prosperity and employment opportunities for people involved in the fishing sector. This scheme focuses on bio-security and environmental concerns.
• Several components of this scheme are strengthening the fisheries' geographical information and database system, monitoring and controlling the fishing sector, and developing the infrastructure for marine fisheries and post-harvest operations.
• The scheme is essential in the fisheries sector because it helps improve the socio-economic conditions of the people involved. It further helps increase people's knowledge of new technology in this sector, increase fish production using sustainable approaches, and generate employment and export opportunities.

Kisan Credit Card

• The government of India extended this Kisan Credit Card scheme to the fisheries and animal husbandry sector in 2018-19.
• The beneficiaries involved in fisheries activities can get a credit limit of 3 lakh as a repayment incentive.
• A 2-lakh credit limit is finalised for new cardholders as working capital requirements in fisheries-related operations.
• RBI issued the revised guideline regarding this and related aspects on 4^th February 2019.

State Government Schemes to Promote Fish Farming in India

Schemes for the fishing industry are also promoted separately by certain states, such as Tamil Nadu and Telangana.

Integrated Fisheries Development Scheme (IFDS)

Introduced by the Telangana government in 2018, it aims to ensure fishers' welfare and livelihoods by increasing productivity and fish production using backwards and forward linkages. It also supports self-help groups and community-based organisations.

Palk Bay Scheme

Introduced in 2017 as a centrally sponsored scheme under the Blue Revolution scheme, it is exclusive to Tamil Nadu. The state government aims to distribute 2000 vessels to fishermen within 3 years to transition them from bottom trawling practices.

Conclusion

India's government is committed to promoting the country's fisheries sector to ensure food security, improve the socio-economic condition of the people involved, and increase export potential. Through its several schemes like FIDF, PMMSY, and Blue Revolution, the government emphasises different aspects of the fishing industry, such as improving the infrastructure in the value chain and increasing the knowledge regarding new technology and other elements. With proper research, learning, capital and these government schemes, one can quickly get into a profitable fish farming business in India. A continuous push for improvement will enhance the country's fisheries industry and improve the lives of the people involved.