Fish is the cheapest and most easily digestible animal protein and was obtained from natural sources from time immemorial for consumption by human beings. Farmers can easily take up fish culture in village ponds, tanks or any new water body and can improve their financial position substantially. It also creates gainful employment for skilled and unskilled youths. The technology developed for fish culture in which more than one type of compatible fishes are cultured simultaneous is the most advanced and popular in the country. This technology is known as Composite Fish Culture. Any perennial fresh water pond/tank retaining water depth of 2 meters can be used for fish culture purpose. However, the minimum level should not fall below one meter. Even seasonal ponds can also be utilized for short duration fish culture. In Aqua Culture Subsidy we will focus on various aspects about the subsidy.
Subsidy is available for various items like Pond Development, construction of New Ponds, first year inputs etc. under a centrally sponsored subsidy scheme implemented by majority of the State Governments through FFDA’s for different categories of farmers, details of which may be obtained from concerned Fisheries Departments.
The following category of borrowers are eligible to avail credit.
a) An Individual.
b) A company.
c) A Partnership firm.
d) A co-operative society.
e) A group of fish farmers.
Training in fish farming is being provided by the FFDA’s to the eligible borrowers and it is essential that the borrower has prior knowledge of fish farming before availment of bank loan.
Repayment of bank loan is possible in 6-8 years in equated annual instalments with moratorium on repayment of principal for the first year.
Rate of Refinance
NABARD provides refinance assistance for fish culture to commercial banks, cooperative banks and Regional Rural Banks. The rate of refinance is fixed by NABARD from time to time.
Rate of interest
Interest rate to be charged to the ultimate borrowers would be as indicated by bank/RBI/NABARD from time to time depending on quantum of loan amount and the agency providing the loan.
Security from the ultimate beneficiaries may be obtained as per the guidelines of RBI issued from time to time.
Ref : http://farmextensionmanager.com/