Animal Husbandry

Fish Farmers May Soon Get Cheap Loans & Other Benefits as Government Plans to Bring National Fisheries Policy

14 February, 2020 11:31 AM IST By: Abha Toppo

To empower farmers across the country, now the central government is making a special plan for the fish farmers. Soon National Fisheries Policy will be introduced so that the fishery industry in India can be reinforced.

Government is considering offering loans and other concessions to fish farmers at cheaper interest rates under this Policy. According to information received from CNBC sources, the government is aiming to increase investment in fisheries by six times in the next 10 years.

Proposal for credit guarantee and insurance cover to fish farmers

According to the information received, the fisheries industry can also get the status of priority sector lending. There is a provision for providing cheap loans for aquaculture, mariculture, post-harvest, and marketing. Also, there is a proposal to provide credit guarantee and insurance cover to fishermen.

Government to promote PPP model

In order to bring private investment in this sector, Government wants Public Private Partnership (PPP) to be encouraged. Other concessions can also be given to those who join this industry. In addition, government will not only try to bring business but also to increase investment in supply chain and infrastructure.

Proposal to create NFDC

By increasing investment in infrastructure, the government aims to encourage the export of Sea food products. Under the new policy, government will also focus in this direction. The government also wants that focus be given to the sea areas. For this, it can come up with a proposal to make fisheries management plans. Moreover, there is a proposal to create a National Fisheries Development Council (NFDC) for the implementation of policies.