- 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