The Government is considering increasing the unit cost of deep-sea fishing vessels under the Palk Bay Scheme to make it more attractive to fishermen.
Palk Bay Scheme
Schemes for diversification of trawl fishing boats from Palk State into deep sea fishing boats
Aimed at encouraging fishermen to take up deep-sea fishing and resolve disputes arising between the India and Sri Lanka
The project helps fishermen in the Palk Straits, who are not exposed to deep-sea fishing, to venture deep into the Indian Ocean, Arabian sea and other deep-sea areas to look for fish like Tuna that are in high demand
Why need Palk-Bay Scheme ?
Bottom trawling, an ecologically destructive practice, involves trawlers dragging weighted nets along the sea-floor, causing great depletion of aquatic resources
Important Points of This Scheme
The scheme aims to replace all trawler boats and introduce over 2,000 deep sea fishing boats in five years.
Under Blue Revolution Scheme - is founded by the Center Government - 50% and State Government - 20% for Boat Costing Rs. 80 lakh.
Of the balance 30%, 10% is contributed by the beneficiary(fisherman), and the remaining 20% funded by Bank