About Fisheries and Aquaculture Infrastructure Development Fund
Objectives of the fund
- Creation and modernization of capture & culture fisheries infrastructure
- Creation of Marine Aquaculture Infrastructure
- Creation and modernization of Inland Fisheries Infrastructure
- Reduce post-harvest losses and improve domestic marketing facilities through infrastructure support.
- To bridge the resource gap and facilitate completion of ongoing infrastructure projects.
- National Bank for Agriculture and Rural Development (NABARD)
- National Cooperatives Development Corporation (NCDC)
- All scheduled Banks
Key features of the fund
- It was set up by Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying
- FIDF envisages creation of fisheries infrastructure facilities both in marine and inland fisheries sectors and augment the fish production to achieve the target of 15 million tonnes by 2020 set under the Blue Revolution.
- It aims to achieve a sustainable growth of 8-9 per cent, in a move to augment the country’s fish production to the level of about 20 million tonnes by 2022-23.
- In the Union Budget 2018, the Hon’ble Finance Minister has announced to set aside a corpus of Rs. 10,000crores for setting up of a Fisheries and Aquaculture Infrastructure Development Fund (FIDF) for fisheries sector
- The proposed Fund entails an estimated fund size of Rs 7522.48 Crore comprising of Rs 5266.40 crore to be raised by the Nodal Loaning Entities (NLEs), Rs 1316.60 crore beneficiaries’ contribution and Rs 939.48 crore budgetary support from Government of India.