Fisheries and Aquaculture Infrastructure Development Fund (FAIDF)

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FAIDF:

  • To double farmers’ income by 2022 the Cabinet Committee on Economic Affairs (CCEA) has approved creation of FAIDF recently.
  • The proposal for creation of fund was made in budget 2018-19.

 

Salient features of the fund

  • The main aim is to boost fish production to achieve the target of producing 15 million tonnes of fish production by 2020 and 20 million tonnes by 2022-23 from current production of 11.4 million tonnes. The aim to achieve this target was set under Blue revolution.
  • The nodal agencies for the fund will be National Bank for Agriculture and Rural Development (NABARD), National Cooperatives Development Corporation (NCDC) and scheduled banks.
  • The fund being raised by nodal loaning entities (NLE).
  • The estimated fund size is about 7522 crore that will benefit country in both inland and marine fisheries areas.
  • The fund will involve in attracting private investment and technologies in creation and management of fisheries all around the count

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