New Enroll here to Join NaBFID Analyst Into Class on May 6

    Question

    Which of the following statement/statements is/are

    INCORRECT regarding the extension of Fisheries and Aquaculture Infrastructure Development Fund (FIDF)? 1. The extension of FIDF is approved for another 5 years, up to 2030-31. 2. FIDF provides concessional finance to the Eligible Entities (EEs) through Nodal Loaning Entities (NLEs) like National Bank for Agriculture and Rural Development (NABARD). 3. The extension of FIDF aims to intensify the development of various fisheries infrastructures.
    A Only Statement 2 Correct Answer Incorrect Answer
    B Only Statement 1 Correct Answer Incorrect Answer
    C Only Statements 3 Correct Answer Incorrect Answer
    D All the statements (1, 2, and 3) Correct Answer Incorrect Answer
    E Only Statements 1 and 3 Correct Answer Incorrect Answer

    Solution

    •     The Union Cabinet chaired by Hon’ble Prime Minister Narendra Modi approved extension of Fisheries Infrastructure Development Fund (FIDF) for another 3 years upto 2025-26 within the already approved fund size of Rs 7522.48 crore and budgetary support of Rs 939.48 crore. •     In order to address the infrastructure requirement for fisheries sector, the union Government during 2018-19 created the Fisheries and Aquaculture Infrastructure Development Fund (FIDF) with a total funds size of Rs 7522.48 crore. •     In the earlier phase of implementation of FIDF during the period from 2018-19 to 2022-23, a total 121 fisheries infrastructure projects with an investment cost of Rs. 5588.63 crore have been approved for creation of various fisheries infrastructures. •     Extension of FIDF will further intensifies development of various fisheries infrastructures like fishing harbours, fish landing centers, ice plants, cold storage, fish transport facilities, integrated cold chain, modern fish markets, Brood Banks, Hatcheries, aquaculture development, Fish Seed Farms, state of art of fisheries training centres, fish processing units, fish feed mills/plants, cage culture in reservoir, Introduction Deep Sea Fishing Vessels, disease Diagnostic Laboratories, Mariculture and Aquatic  Quarantine Facilities. •     FIDF will continue provides concessional finance to the Eligible Entities (EEs), including State Governments/Union Territories 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. •     The Government of India provides interest subvention up to 3% per annum for the repayment period of 12 years inclusive of moratorium of 2 years for providing the concessional finance by the NLEs at the interest rate not lower than 5% per annum. •     The Government of India also provides credit guarantee facility to the projects of entrepreneurs, individual farmers and cooperatives from the existing credit guarantee fund of Infrastructure Development Fund of Department of Animal Husbandry and Dairying.

    Practice Next

    Relevant for Exams: