Government & NABARD Teamed Up to Boost Fish Production

The Odisha government and the National Bank for Agriculture and Rural Development have signed an agreement to build fisheries infrastructure in the state. According to a press release, the memorandum of understanding was signed on Friday by Vishal Dev, Principal Secretary of Finance, and C Udayabhaskar, Chief General Manager of Nabard.

According to Udayabhaskar, the dedicated Fisheries and Aquaculture Infrastructure Development Fund (FIDF) will aid in the development of infrastructure facilities in both the marine and inland sectors.

It will boost the state's fish production, and an initial investment of Rs 119.8 crore has been approved.

By utilizing the potential, Dev stated that it would bring about "revolutionary change" in the state's fisheries sector.

The officials discussed various developments in the fisheries as well as the FIDF's operational modalities. Dev promised the state government's full support.

The FIDF aims to achieve an 8-9 percent sustainable growth rate in order to increase the country's fish production capacity to around 20 million tonnes by 2022-23. RG RG HMB RG RG

About FIDF:

The Fisheries and Aquaculture Infrastructure Development Fund (FIDF) provides a concessional finance support facility for the development of various inland fisheries activities, such as brood banks, hatcheries, aquaculture, cage culture in reservoirs, ice plants, cold storage, fish transportation, and so on.

FIDF's Objectives:

• Developing & modernizing capture and culture fisheries infrastructure

• Creating & modernizing marine aquaculture infrastructure

• Developing and modernizing inland fisheries infrastructure.

• Provide infrastructure support to reduce post-harvest losses and improve domestic marketing facilities

• Bridge the resource gap and expedite the completion of ongoing infrastructure projects