Fisheries and aquaculture infrastructure development fund

Under the chairmanship of the Prime Minister, the Cabinet Committee on Economic Affairs has given its approval for the creation of the Special Fisheries and Aquaculture Infrastructure Development Fund (FIDF).
key points
  • Under this clearance, the estimated amount of fund will be Rs 7,522 crore, out of which Rs 5266.40 crore will be raised by the major lending bodies, while the beneficiaries will contribute 1316.6 million rupees.
  • Rs. 939.48 crores will be received in the form of budgetary support from the Government of India.
  • National Bank for Agricultural and Rural Development-NABARD, National Cooperatives Development Corporation (NCDC) and all Scheduled Banks (now banks will be written) will be the key lending body for this.
  • Fisheries related infrastructure facilities will be set up in both marine and inland fisheries.
  • Under the ‘Blue Revolution’, fish production will be increased to achieve the target of 15 million tonnes for the year 2020 and to achieve a sustained growth rate of 8-9 percent. After this, the fish production will be increased to 20 mmscmd by 2022-23
  • Employment opportunities for more than 9.40 lakh fishermen / fisheries related fishermen and other entrepreneurs of related activities will be created.
  • Establishment and management of infrastructure related infrastructure will encourage private investment.
  • New technologies will be adopted.
Arrangement of loans under FIDF
  • FIDF will get subsidized finance from the State Governments / Union Territories and States bodies, co-operatives, different people and entrepreneurs, etc., so that they can fulfill the investment activities related to the development of the fisheries sector.
  • The distribution of debt under FIDF will be done during the five-year period from 2018-19 to 2022-23 and the payment will be in the maximum period of 12 years, including a two-year moratorium on payment of principal.v
Why in the discussion?
Under the chairmanship of the Prime Minister, the Union Cabinet has approved the formation of a High-Level Prolongation Committee to review and update the National Indicator Framework-NIF for monitoring the Sustainable Development Goals-SDGs. Has given
Draft and work of the committee
  • The High Level Committee chaired by the Chief Statistician of India and the Secretary of the Ministry of Statistics and Program Implementation (MoSPI). 
  • The statistics will be in the form of data sources and secretaries of the policy commission. Apart from this, the Secretary of the concerned ministries will be specially invited. 
  • Its work will be reviewed periodically by improving the indicators, including the national indicators framework.
  • To address the challenges of development, to address the current national programs and strategic action plans, mainly the measures for sustainable development goals. 
  • NIF statistical indicators will be the backbone of SDG monitoring at the national and state level and will evaluate the results of policies to achieve various goals scientifically. 
  • Based on the statistical indicator, MoSPI will present the national report on the implementation of SDG. This report will make recommendations for simplifying the assessment of progress, identifying the challenges and working ahead at the national level. 
  • Data source Ministry / Department will provide regular and separate information to these PSUs at the necessary intervals and to MoSPI for national and sub-national report of SDG. 
  • Sophisticated equipment will be used for quick and effective monitoring of sustainable development goals.
  • In SDG, economic, social and environmental related dimensions of development have been included. Its aim is to promote eradication of poverty and prosperity in the changing world with the basic spirit of ‘Development of everyone with everything’. 
  • SDG with 17 goals and 169 objectives, to promote sustainable, holistic and equal economic development, create more opportunities for all, reduce inequality, improve the basic level of living, promote social development and promote social development And wants to promote integrated and continuous management of the ecosystem. 
  • NIF will help to provide results based monitoring and information about the nature of the SDG at the national level.
  • The Millennium Development Goals (MDGs), known in terms of the Millennium Development Goals (Millennium Development Goals-MDGs), were approved in the Millennium Summit on 2000 at the UN headquarters in New York. It prepared a framework for countries to follow their national development strategies between 2000 and 2015. 
  • MDG has eight goals and various issues of development have been kept in it. 
  • Objectives of MDG were achieved in different countries unevenly and it was felt that in order to assess its utility and after 2015, for the guidance of development cooperation in the world, new ideas for finding potential successor to be done.
  • The United Nations General Assembly considered and extended its Millennial Development Goals for the next 15 years in its 70th session. The 17th Millennium Development Goal came into existence from 01 January 2016. 
Forward path
  • Although there is no obligation to implement SDG, but within the next 15 years it has the potential of bringing international liability and changes in the domestic spending priorities of the countries. 
  • It is expected that the country will take ownership and establish national structures to achieve these objectives. 
  • Its implementation and success will depend on the country’s continued development policies, plans and programs. 
  • The country will be responsible for further working and reviewing the progress made in the implementation of goals and objectives at the national level. 
  • For monitoring the progress under the SDG, working at the national level will require quality, access and timely data.
There will be no direct financial impact on the implementation of the National Indicators Framework. However, to facilitate the process of monitoring the SDG indicators to affiliated ministries, their statistical systems must be reconstituted and strengthened. It is expected that the SDG will bring changes in the lives of the people and monitoring the progress of SDG will benefit the entire country.

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