FISHERIES AND AQUACULTURE INFRASTRUCTURE DEVELOPMENT FUND (FIDF)
In the Union Budget 2018, the Hon’ble Finance Minister announced setting up of a Fisheries and Aquaculture Infrastructure Development Fund (FIDF) for fisheries sector. Accordingly, during 2018-19, the Department of Fisheries, Ministry of Fisheries, Animal Husbandry & Dairying, Government of India created a dedicated fund, FIDF, with a total funds size of Rs 7522.48 crore. FIDF envisages creation of fisheries infrastructure facilities both in marine and inland fisheries sectors and augment the fish production to achieve the target of 15 million tonnes by 2020 set under the Blue Revolution. Besides, the FIDF aims to achieve a sustainable growth of 8-9 per cent, in a move to augment the country’s fish production to the level of about 20 million tonnes by 2022-23.
FIDF provides concessional finance to the Eligible Entities (EEs), including State Governments/Union Territories and State entities for development of identified fisheries infrastructure facilities through Nodal Loaning Entities (NLEs) namely
National Bank for Agriculture and Rural Development (NABARD),
National Cooperatives Development Corporation (NCDC) and
All scheduled Banks
Under the FIDF, the Department of Fisheries provides interest subvention up to 3% per annum for providing the concessional finance by the NLEs at the interest rate not lower than 5% per annum. Loan lending period under FIDF is five years from 2018-19 to 2022-23 and maximum repayment period of 12 years inclusive of moratorium of 2 years on repayment of principal.
National Fisheries Development Board (NFDB), Hyderabad is the Nodal Implementing Agency for FIDF Scheme. NFDB has developed an online FIDF Portal. The portal encompasses information vv.r.t FIDF for all stakeholders, online application form for all types of entities, online processing and approval of FIDF applications. Each of the stakeholders have been given separate login for processing of the respective application. The portal also has FIDF Dashboard to monitor the progress of applications on a real time basis.