Current Affairs PDF

Central Government to invest Rs 25,000 crore in different sectors of fisheries in next 5 years

AffairsCloud YouTube Channel - Click Here

AffairsCloud APP Click Here

With an aim to improve the fisheries sector, the Union government has plans to invest Rs. 25,000 crore in different sectors of fisheries in the next 5 years. It will help in the accomplishment of the goals of the ambitious Blue Revolution (Fisheries) project.Ministry of Fisheries, Animal Husbandry and Dairying

Key Points:

  • Aim: Center has an aim to expand the scope of inland fisheries, increase productivity in aquaculture farms by monitoring disease, double the aquaculture productivity from 3 million tonnes at present to 6 million tonnes, implement traceability to double seafood exports in 5 years from around Rs 47,000 crore at present.
  • Funds: Funds will be brought in from different schemes such as the Pradhan Mantri Sampada Yojana (Matsya) and World Bank schemes which will be launched in 2020. Fishery infrastructure development fund has been started with Rs 7,300 crore.
  •  MoU: The Ministry of Fisheries has signed an MoU (memorandum of understanding) with Norway and it will sign an agreement with Iceland and Denmark for breeding high value fishes like trout.
  • Marine Fisheries Regulation and Management Bill: It will help to regulate the entire exclusive economic zone and prevent poaching by foreign fishing vessels. Trawlers, fishing gear and net will also be regulated. At present, the bill is in the public domain for discussion.
  • Inland fisheries contribute only 50% of the total fish production.
  • Recently, Aqua Aquaria India 2019 (5th Edition) was held at Hyderabad, Telangana.

About Ministry of Fisheries, Animal Husbandry and Dairying:
Formed: May 2019
Minister In-charge: Giriraj Singh (Constituency: Begusarai, Bihar)