Shrimp and prawn farming is a growing industry in India, providing employment opportunities and contributing to the country’s economy. To support and encourage this sector, the Indian government has launched various subsidy schemes for shrimp/prawn farmers. These schemes have significantly benefited shrimp/prawn farmers in India, leading to increased production and profitability. Let is look at in-depth analysis of this.
Government Shrimp/Prawn Farming Subsidy Schemes in India
National Fisheries Development Board (NFDB)
The Indian government launched the NFDB scheme for shrimp/prawn farming to promote the culture of shrimp/prawn farming in the country. The scheme provides subsidies to farmers for setting up shrimp/prawn farms, purchasing equipment, and other related activities. The subsidy percentage under this scheme is 40% of the total project cost. The value of the subsidy depends on the size of the project.
For projects with a capital cost of up to Rs. 1 crore, the maximum subsidy amount is Rs. 40 lakhs. For projects with a capital cost of more than Rs. 1 crore, the maximum subsidy amount is Rs. 60 lakhs. The scheme is open to all farmers, entrepreneurs, and cooperatives who wish to set up shrimp/prawn farms in the country. The farmers must have a minimum of 2 hectares of land and should be able to invest at least 10% of the project cost.
Blue Revolution Scheme
The Blue Revolution Scheme is a flagship scheme of the Indian government aimed at promoting sustainable aquaculture and fisheries development in the country. Under this scheme, the government subsidizes farmers for various aquaculture activities, including shrimp/prawn farming. The subsidy percentage under this scheme is 40% of the total project cost. The value of the subsidy depends on the size of the project.
For projects with a capital cost of up to Rs. 20 lakhs, the maximum subsidy amount is Rs. 8 lakhs. For projects with a capital cost of more than Rs. 20 lakhs, the maximum subsidy amount is Rs. 12 lakhs. The scheme is open to all farmers, entrepreneurs, and cooperatives who wish to set up shrimp/prawn farms in the country. The farmers must have a minimum of 0.1 hectares of land and should be able to invest at least 5% of the project cost.
National Bank for Agriculture and Rural Development (NABARD) Scheme
The NABARD scheme for shrimp/prawn farming is aimed at promoting sustainable aquaculture and fisheries development in the country. Under this scheme, the government provides subsidies to farmers for setting up shrimp/prawn farms, purchasing equipment, and other related activities.
The subsidy percentage under this scheme is 25% of the total project cost. The value of the subsidy depends on the size of the project. For projects with a capital cost of up to Rs. 25 lakhs, the maximum subsidy amount is Rs. 6.25 lakhs. For projects with a capital cost of more than Rs. 25 lakhs, the maximum subsidy amount is Rs. 10 lakhs.
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The scheme is open to all farmers, entrepreneurs, and cooperatives who wish to set up shrimp/prawn farms in the country. The farmers must have a minimum of 0.5 hectares of land and should be able to invest at least 5% of the project cost.
Rashtriya Krishi Vikas Yojana (RKVY) Scheme
The RKVY scheme is a flagship scheme of the Indian government aimed at promoting sustainable agriculture and rural development in the country. Under this scheme, the government subsidizes farmers for various agricultural activities, including shrimp/prawn farming. The subsidy percentage under this scheme is 50% of the total project cost. The value of the subsidy depends on the size of the project.
For projects with a capital cost of up to Rs. 50 lakhs, the maximum subsidy amount is Rs. 25 lakhs. For projects with a capital cost of more than Rs. 50 lakhs, the maximum subsidy amount is Rs. 50 lakhs. The scheme is open to all farmers, entrepreneurs, and cooperatives who wish to set up shrimp/prawn farms in the country. The farmers must have a minimum of 0.5 hectares of land and should be able to invest at least 10% of the project cost.
National Scheme of Welfare of Fishermen (NSWF) Scheme
The NSWF scheme is a flagship scheme of the Indian government aimed at promoting the welfare of fishermen in the country. Under this scheme, the government subsidizes fishermen for various activities, including shrimp/prawn farming. The subsidy percentage under this scheme is 50% of the total project cost. The value of the subsidy depends on the size of the project.
For projects with a capital cost of up to Rs. 50 lakhs, the maximum subsidy amount is Rs. 25 lakhs. For projects with a capital cost of more than Rs. 50 lakhs, the maximum subsidy amount is Rs. 50 lakhs. The scheme is open to all fishermen, entrepreneurs, and cooperatives who wish to set up shrimp/prawn farms in the country. The fishermen must have a minimum of 0.1 hectares of land and should be able to invest at least 5% of the project cost.
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Conclusion
In conclusion, the Indian government has introduced several subsidy schemes to promote shrimp and prawn farming in the country. These schemes aim to provide financial assistance and support to farmers to help them increase their production and income.
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