Union Cabinet Approves Extension of Fisheries Infrastructure Development Fund (FIDF)

  • The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the extension of the Fisheries Infrastructure Development Fund (FIDF) for another three years up to 2025-26. 
  • The extension is part of the Union Government’s efforts to address the infrastructure requirement for the fisheries sector. 
  • FIDF was created in 2018-19 with a total funds size of Rs. 7522.48 Crore. 
  • During the earlier phase of FIDF, 121 fisheries infrastructure projects with an investment cost of Rs. 5588.63 Crore were approved for various fisheries infrastructures. 
  • The extension will intensify the development of various fisheries infrastructures like fishing harbors, fish landing centers, ice plants, cold storage, fish transport facilities, integrated cold chains, modern fish markets, Brood Banks, Hatcheries, aquaculture development, Fish Seed Farms, state of art of fisheries training centers, fish processing units, fish feed mills/plants, cage culture in reservoir, Introduction Deep Sea Fishing Vessels, disease Diagnostic Laboratories, Mariculture and Aquatic Quarantine Facilities. 
  • The Government of India provides concessional finance to Eligible Entities (EEs), including State Governments/Union Territories, through Nodal Loaning Entities (NLEs).
Posted in Current Affairs.