Rs 2,100 cr sought for fisheries project

The agriculture ministry has sought the Cabinet's approval to set up a National Fisheries Development Board (NFDB) to spearhead a Rs 2,100 crore fisheries project which aims to inject professionalism and better production methods into the sector.

The Rs 2,100 crore investment would be spread over six years, said government officials. The NFDB is to be registered as a society following the Cabinet's approval.

The project is expected to usher in increased fish production, besides facilitating direct employment in the sector.

According to the agriculture ministry, annual fish production is expected to increase by 3.9 million tonne at the end of the six-year period, which is more than half the 6.40 million tonne produced in 2004-05.

Activities undertaken by the project are expected to generate employment opportunities for 3.5 million persons and generate an income of Rs 95 crore a year.

The ministry's move to push for an NFDB has come in the backdrop of a view that the conditions are ripe to shift emphasis from marine fish to inland fish as the former is growing at a faster rate.

The average growth rate in marine fish production is about 2.19 per cent, while that of inland ones is 6.55 per cent.

In keeping with the changing trend in production, the fisheries project plans the largest share of resources for intensive aquaculture of ponds and tanks.

According to the ministry, of the Rs 2,100 investment, about Rs 620 crore is meant for intensive aquaculture. This would be followed by an allocation of Rs 600 crore towards infrastructure development.

The proposal for NFDB has envisaged bringing state governments on board. The proposal has asked state governments to contribute at least 10 per cent of the actual expenditure incurred by the board in that state.