New Delhi : The Government of India has strengthened financial support for fishers and fish farmers by expanding the Kisan Credit Card (KCC) scheme and introducing additional infrastructure and social security benefits.
The KCC facility, extended to fishers and fish farmers since 2018-19, provides loans up to ₹2 lakh at a subsidized interest rate of 7%. An interest subvention of 1.5% is offered to financial institutions, while farmers who repay on time receive an additional 3% Prompt Repayment Incentive (PRI), effectively reducing the interest rate to 4%. From January 1, 2025, the collateral-free loan limit has been raised from ₹1.60 lakh to ₹2 lakh. Additionally, the Union Budget 2025-26 increased the KCC lending limit to ₹5 lakh under the Modified Interest Subvention Scheme to improve credit accessibility for fisheries stakeholders. As of now, 4,63,492 KCC cards have been issued, with loans totaling ₹2,982.58 crore across all States and Union Territories.
To support fisheries infrastructure, the government has been implementing the Fisheries and Aquaculture Infrastructure Development Fund (FIDF) since 2018-19, with a total fund size of ₹7,522.48 crore. The fund provides concessional finance for fisheries infrastructure development, including projects by State Governments, Union Territories, and private stakeholders. Under FIDF, an interest subvention of up to 3% is provided, ensuring concessional financing at a minimum rate of 5% per annum. So far, 141 projects worth ₹3,947.54 crore have been approved under the scheme.
In addition to financial assistance, the government is also ensuring social security for fishers under the Pradhan Mantri Matsya Sampada Yojana (PMMSY). The scheme offers group accidental insurance coverage, with the Central and State Governments bearing the full premium. The coverage includes ₹5 lakh for death or total disability, ₹2.5 lakh for partial disability, and ₹25,000 for hospitalization expenses. From 2021-22 to 2024-25, an average of 32.82 lakh fishers have been enrolled annually under this scheme, benefiting a total of 131.30 lakh fishers.
This information was provided by Union Minister of State for Fisheries, Animal Husbandry, and Dairying, Shri George Kurian, in a written reply to the Lok Sabha on Tuesday.
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