First Tripartite Agreement on Fisheries and Aquaculture Development Fund

  • The department of fisheries (GoI), NABARD and Tamil Nadu Government signed an agreement to implement Fisheries and Aquaculture Development Fund (FIDF). The tripartite agreement set a total of Rs 7522 crores to address the infrastructure requirement of fisheries sector.

Role of NABARD

  • NABARD provides concessional financing to fisheries infrastructure facilities through state governments under FIDF.
  • It is the Nodal Loaning Entity of the fisheries department. It also supports fisheries under Rural Infrastructure Development Fund (RIDF)

Fisheries in Tamil Nadu

  • Tamil Nadu is the home of 10 lakh fisher families. The state is ideal for brackish water fisheries, marine fisheries and inland fisheries. Tamil Nadu ranks fourth in total fish production in the country.
  • India ranks second in the world fish production. The fisheries sector in the country contributes to 1% of GDP of the country.
< Previous Current Affairs Next National Diary of Events >