Updated By: LatestGKGS Desk
Palk-Bay Scheme: Need, significance, Details
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