Pearl Farming: Earn in Lakhs With The Help of Government Subsidy

Pearl Farming is one of the most lucrative Aqua culture businesses and the government is encouraging farmers to take up this farming. The government is providing subsidy for cultivating pearls. Due to lack of supply as compared to the demand of pearl, its price is high. In such a situation, it is the effort of the government that farmers should start cultivation of pearls through scientific method. 

Government Subsidy For Pearl Farming:  

Considering the scope of pearl farming, the Department of Fisheries has included a sub-component for pearl culture in the Blue Revolution scheme for encouraging the sector. All the States / UTs were requested to promote the pearl farming in the States availing the financial assistance from the Department of Fisheries under the Blue Revolution scheme. 

Government Subsidy for Pearl Farming Under Pradhan Mantri Matsya Sampada Yojana 

The Department of Fisheries under the Pradhan Mantri Matsya Sampada Yojana   (PMMSY) envisages for promoting Bivalve cultivation including pearl culture in India as diversified aquaculture practice. This component has been included for promoting pearl culture both in marine and freshwater.  

The unit cost for bivalve cultivation including pearl culture is Rs. 0.2 lakh per unit which includes the capital cost and one-time input and operational cost. The beneficiaries have to obtain necessary permission for allotment of sea area by the respective State Governments / UTs as per the prevailing leasing policy.  

How to take benefit of the Centrally Sponsored Subsidy for Pearl farming 

The beneficiaries are required to prepare a self-contained proposal indicating techno financial details together with documentary evidence of necessary permission and technical know-how. Governmental financial assistance is restricted to 5 units for individual farmer/beneficiary; 50 units for fishermen/fisherwomen Cooperative Societies, SC/ST Cooperative Societies, Women SHGs, etc having at least 10 members.  

The proposal is to be routed through the concerned State Govt/UT Administration with clear recommendations. Detailed guidelines in respect of CSS have been uploaded in this Department’s website: www.dof.gov.in  and www.nfdb.gov.in. 

On approval of the project/proposal, the admissible central financial assistance under the scheme would be released in installments and the size & number of installments shall be decided keeping in view the magnitude of the project and the quantum of total central assistance, availability of financial resources, funds absorbing capacity of the project implementing agency and assessment of the progress of the project. Preferably, the first installment of central share shall be recommended by the SPAC/SPSC and released on approval of the proposal.