Fish Farming Subsidy & Bank Loan Under Blue Revolution Scheme

Fish Farming Subsidy & Bank Loan Under Blue Revolution Scheme

It is essential that the central government takes necessary steps to ensure the overall development of common people. Providing financial assistance for industries and crop farmers is not enough. Fish farming is a lucrative opportunity for the nation to earn foreign exchange.  Thus, the central government has launched the Blue Revolution to give financial assistance to people associated with fish farming.

Launch details of the scheme

The official lunch of Blue Revolution was done by PM Narendra Modi in 2016 June. The scheme will assist in developing the overall fish farming industry and people related to it. The activities of this scheme will be monitored by Ministry of Agriculture and Farmers Welfare Department of Animal Husbandry, Dairying & Fisheries. It is an integrated system and details of the scheme can be acquired from http://dahd.nic.in/sites/default/files/Guidelines.BR-30616.Fisheries.pdf.

What is Blue Revolution Scheme?

There was no integrated scheme for bringing about development in fishery sector. But it has been earning a lot of foreign currency by exporting fish to other countries. To give the much needed boost to fish farming, the central government has announced the launch of Blue Revolution. It is also known as Neel Kranti Mission. Herein, the fish farmers will be given financial assistance; subsidy and a number of developmental schemes will be implemented for overall development of pisciculture.

Key features of the scheme

  1. Empowering fish farmers – Fisheries were neglected for long. With the implementation of this program, the central government will help fish farmers in producing better quality and quantity that will develop the future of pisciculture.
  2. Providing financial assistance – Apart from providing information to fish farmers, the central authority will also provide them with easy bank loans. These credits will be provided so that they can install better instruments in the fish farmers and generate more fishes.
  3. Providing subsidy – Fish farmers will be entitled to get bank loans at lower rates. It will assist them by lifting the pressure of credit repayment or handling the heavy pressure of interest rates.
  4. Development of fisheries – The scheme and related program will assist in the overall development of the entire fish production industry. The fish farmers will be given the training they need to bring in more profit.
  5. Boosting the production of fish – When this scheme is implemented, the central will assist the fish farms in doubling their production. It will bring more profit in the pockets of fish producers and in the national treasury as well.
  6. Estimated tenure for goal achievement – As per the draft of this scheme, the central government has set a goal to increase artificial fish production and export by triple till the end of 2020.
  7. Doubling the fish farmers’ income – When the production and export of fish increase by three times, the people associated with this industry will be able to make a profit that is double of what they are making now.
  8. Improving the market – Developing the individual fisheries will not be enough. Steps must be taken so that the fish producers get a proper market to sell their produce. Without this, the success of this scheme cannot be guaranteed.
  9. Developing food security for the nation – When implemented successfully, the central government will be able to ensure that the quality of fishes will be up to the mark. It will ensure high quality food for enhancing the health of people.
  10. Fully financed by the central government – The whole operation will be sponsored by the central government. It will require at least 3000 crore for implementing the scheme successfully.

Programs under Blue Revolution

  1. Expansion of Inland fish farms and Aquaculture – For developing the any fishery unit by construction of new tank, renovation of existing tanks and meeting other associated costs, the fishery owners will get Rs. 7 lakhs, Rs. 3.5 lakhs and Rs. 1.5 lakhs respectively. In each case, the money will be given at 60% subsidy.
  2. Expansion of Water Logged regions – Steps will be taken to develop the areas around the fishery that remain water logged. The expansion of these areas will enhance the performance of the fish farm. Each unit owner will get Rs. 3.00 lakh per hectare for its development. Apart from this, Rs. 1.5 lakhs per hectare will be provided for meeting other expenses. In both cases, the unit owner will get a subsidy of 60%.
  3. Aquaculture in inland alkaline and saline waters – In case the fish farmers need to construct a new tank or pond for raising the fishes, they will get a grant of Rs. 7 lakhs for every hectare. They will get subsidy of 60% if the selling cost of each hectare is Rs. 4.20 Lakh. For meeting the expense of feed, disease controlling mechanisms, transportation, fish seeds; the unit owner will get Rs. 1.50 Lakh per hectare with the same subsidy rate.
  4. Inland capture fishery – Fish rearing units, which are operational in village ponds and lakes will be brought under the rudder as well. These units will be given a grant of Rs 1 lakh and will also get a subsidy at 60% if the celling cost of the unit is Rs. 0.6 lakhs. They will also get equipment like boat, ice boxes, fish containers etc.
  5. Training and capacity building – The fish farmers will get 50% of the total cost for setting up the unit where the fishes will breed. These are fish seed rearing units and the fish farmers will get required training to build the capacity of fish production.

Documents required for the scheme

  1. Residential certificate – The interested fish farmers will have to produce residential documents to verify that they are actually residents of a particular state or not. They will only get the grant if they reside and operate the fishery in the same area.
  2. Ration card of the applicant – The ration card is another document that must be attached with the application form. It will play a vital part in the verification procedure.
  3. Details of the fishery project – As the candidate is applying to get credit from the banks, for developing the fishery, they will have to attach the details of the fishery project as well.
  4. Voter ID card – A photocopy of the voter ID card is a must. It contains personal identification details of the applicant and is also considered as a residence proof.
  5. Aadhar card – Furnishing the application form with the Aadhar code is a must. It will help in doing the verification of the documents and the claims made by the candidate.
  6. Application form – Along with the list of documents mentioned above, the applicant will have to submit the registration form as well. Make sure that it has been filled with correct data.
  7. Photo of the applicant – The applicant will have to provide passport sized photograph along with the registration form. It will assist in the verification of the applicant.

Details of financial assistance

  1. The central government will only provide around 50% of the total cost for setting up the project, if the fish farmer is located in any general state. The rest of the expense will be handled by the state agencies, fishery cooperatives and other private enterprises.
  2. If the fish farmer is operating in any of the North Eastern or hilly states, then the central authority will end up providing 80% of the total expenditure.
  3. In case the project is implemented by a central government agency, then the fish farmer will get 100% grant from central authorities.

How to get the application form?

To get the application form, the interested candidate will have to either log on to the bank’s website and click on the marked tabs. But all banks are not providing the facility of online application. Only SBI and IDBI have this option. If any candidate wants to apply for loan from any of the other banks, they will have to go to the nearest branch and collect the application form.

With this scheme, the people associated with fish culture and production will get the assistance they need to produce more products and make more profits. If these fisheries manage to increase their production, then the overall export will also go up.

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2 thoughts on “Fish Farming Subsidy & Bank Loan Under Blue Revolution Scheme”

  1. I am from the north eastern hilly region.Does it mean i am eligible for 80% subsidy from the centre?Also i have a Central Bank of India account.Please let me know,when and which year of month does this scheme ‘Blue-Revolution’ gets started..?

  2. Sir actually my father pass the loan amount of 1080000 in which subsidy was around 390000 n after the few month the bank says the scheme is not in operation but it is already passed from animal husb n fishries department so they not ready to pass loan what can i do for that

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