Deep Sea Fishing Project

Why in news?

Prime Minister formally launched the project to promote deep-sea fishing among Ramanathapuram fishermen in Tamil Nadu.

What prompts this project?

• Recently, Sri Lanka had passed a law banning bottom trawling in its territorial waters in the Palk Bay.
• Sri Lankan authorities frequently arrest our fishermen and impounding our boats.
• Fishing days in the Palk Bay have gone down drastically over the years.

What are the aspects of this project?

• Deep-sea fishing is a project of the Central and State governments.
• It has been touted as the remedy for the problems faced by fishermen of Ramanathapuram district in the hands of the Sri Lankan Navy.
• The share of beneficiary contribution is a mere 10% of the cost of every boat.
• While the Central government will meet 50% of the cost and the State government will meet 20%.
• The remaining 20% will be through institutional finance or loan component.
• Originally, the loan component was 30% and the share of the State, 10%.
• The changes have been made so that fishermen-beneficiaries are not put to much hardship.

What are the problems in this project?

• Many fishermen are apprehensive that the assistance package being offered for them to transition to deep-sea fishing does not address all their concerns.
• The fishermen feel that the norms of the project regarding beneficiary contribution are not realistic.
• They allege that it would be a huge burden for us to make the contribution of Rs.8 lakh, accounting for 10% of the cost of every tuna long-liner cum gill netter boat.
• The fishermen would find it extremely difficult to provide collateral security to banks for loans as they do not have high value immoveable assets.
• Fishermen will also find it difficult to adhere to the stipulation of selling their trawlers and meeting their contribution.

What are the positive aspects of this project?

• As for collateral security, the banks need not insist on this form of security as the loan component is only a small portion of the total cost.
• Besides, the fishermen have to chip in their contribution only at a later stage.
• The norms on beneficiary contribution were finalised after holding discussion with the fishing community.

Source: The Hindu