India is currently the second largest producer of fisheries after China. To double the Farmer’s income by 2022 the government has created the Fisheries andAquaculture Infrastructure Development Fund (FAIDF) in 2018.
Salient Features of the FAIDF:
- The main aim is to boost fish production to achieve the target of producing 15 million tonnes of fishproduction by 2020 and 20 million tonnes by 2022-23 from current 11.4 million tonnes.The aim to achievethis target was set under the Blue Revolution Scheme.
- The nodal agencies for the fund will be National Bank for Agriculture and Rural Development (NABARD),National Cooperative Development Corporation (NCDC) and scheduled commercial banks.
- The funds will be raised by Nodal Loaning Entities (NLE).