CCEA okays Rs 7,522 cr fund for fisheries infrastructure

New Delhi: The government Wednesday approved Rs 7,522 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. India's fish production is estimated at 12 mt annually.

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has given its approval for creation of special Fisheries and Aquaculture Infrastructure Development Fund (FIDF), an official statement said. "The approval entails an estimated fund size of Rs 7,522 crore, comprising Rs 5,266.40 crore to be raised by the Nodal Loaning Entities (NLEs), Rs 1,316.6 crore beneficiaries contribution and Rs 939.48 crore budgetary support from the Government of India," an official statement said. National Bank for Agriculture and Rural Development (NABARD), National Cooperatives Development Corporation (NCDC) and all scheduled banks would be the NLEs.

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.