Fisheries Get A Boost Of 20,000 Crore, Insurance Coverage For Fishermen And Their Boats

Finance Minister Nirmala Sitharaman announced the final disbursal and allocated Rs 20,000 cr to aquaculture and infrastructure for fisheries.

(Photo by Arun SANKAR / AFP)

New Delhi: The Finance Minister Nirmala Sitharaman today announced the final tranche of the Rs 20 lakh crore economic package that was announced by Prime Minister in the wake of Coronavirus crisis in the country. The final disbursal was focussed on agriculture and allied industries. This time Rs 20,000 cr has been allotted to aquaculture and infrastructure for fisheries. According to the minister, this will help in increasing the production and will also provide employment to over 55 lakh people. The finance minister said that the amount will be allocated through the Pradhan Mantri Matsya Sampada Yojana (PMMSY). This is sn existing scheme that was announced in 2019 and was aimed at increasing the production of fish and aquatic products, strengthening the infrastructure, and supporting marketing initiatives. According to a report by IANS as much as Rs 11,000 crore out of Rs 20,000 crore will be kept for activities in marine, inland fisheries and aquaculture and the remaining Rs 9,000 cr is for creating infrastructures such as fishing harbours, cold chains and markets. The report also said that this step will benefit key activities such as cage-cutter, seaweed farming, ornamental fisheries, as well as new fishing vessels and their traceability. She also said that assistance with insurance for fishermen and their boats vessels will also be provided. The finance minister said that this step could lead to an increase in production of 70 lakh tonne over the next 5 years. The minister also said that even exports will be impacted and the IANS report says that it will doble the exports to Rs 1,00,000 crore. Also Watch: