Subsidy for the Purchase of Wooden/Fiber Reinforced Plastic/Steel Mechanised Boats

DETAILS The scheme "Subsidy for the Purchase of Wooden/Fiber Reinforced Plastic/Steel Mechanised Boats" is a Sub-Component under the Umbrella Scheme "Financial Assistance for Availing Subsidy Components for the Development of Marine Fisheries" by the Department of Fisheries and Fishermen Welfare, Government of Puducherry. The scheme is introduced with the objective of increasing marine fish production by extending subsidies for the procurement of wooden/fiber-reinforced plastic/steel mechanized boats. BENEFITS 50% subsidy subject to a maximum of ₹7,50,000 for a mechanized boat of overall length above 47 feet with nets linked with bank finance for the purchase of a new fishing vessel. 50% subsidy subject to a maximum of ₹11,00,000 for a steel mechanized boat of overall length 45 to 54 feet with nets, linked with bank finance for the purchase of a new fishing vessel. 50% subsidy to a maximum of ₹2,50,000 per boat for conversion/modernization of an existing mechanized fishing boat (unit cost ₹5,00,000). 50% subsidy to a maximum of ₹5,00,000 for the modernization of an existing mechanized fishing boat with a size of 43 feet and above for tuna long lining (unit cost ₹10,00,000). *The rate of subsidy may be fixed by the Government from time to time. ELIGIBILITY The applicant should either belong to the fishermen community or be one of those professionally engaged in fishing/fish trade occupation on a full-time basis/prospective entrepreneurs. The applicant must have resided in the Union territory of Puducherry for a continuous period of not less than five years at the time of applying for extending subsidies/ grants. The applicant must have been enrolled as a member of the Fishermen Co-operative Society and be above the age of 23 years and below 60 years. The applicant must not have been a recipient of Old Age Pension, issued by the department. The applicant should not be employed in Government/ Government Undertakings/Fishermen Co-operative Society. The applicant must not have any dues to be paid to the Department/Fishermen Co-operative Societies at the time of making the application. In the case of male applicants, they should possess sea fishing experience in any mechanized boat for a minimum period of 5 years. In the case of women applicants, they should possess sufficient fishing trade experience. In the case of entrepreneurs, they should possess fishing trade experience.