Kerala govt unveils loan, insurance scheme for fishing sector

The LDF Government in Kerala today unveiled an interest-free loan and insurance scheme for the fishing sector, with a total outlay of Rs 22.48 crore.    

The scheme, 'Malseya Suraksha' (protection of fishing sector), envisages provision of insurance cover to fishing equipment, which are lost or destroyed due to natural calamities and other incidents in sea, state Fisheries Minister S Sharma told reporters here.     

The scheme, stated to be the first of its kind in the country, was being implemented in association with the Oriental Insurance Company and would benefit upto two lakh fishermen, he said.    

The government would share 50 per cent of the premium while the rest would be borne by the fishermen who join the scheme, he said adding an amount of Rs one crore had been set apart for this purpose.    

The scheme would be inaugurated by State Finance Minister T M Thomas Issac at Alappuzha on August 25.    

Under the interest free loan programme, nearly 40,000 women fish vendors would be given a loan of Rs 5,000 through the Society for Assistance to Fisherwomen.    

The fisherwomen who formed self-help groups would be given Rs 25,000 as loan. The loan amount has to be repaid in 50 instalments of Rs 100 a week.    

An amount of Rs 21.48 crore had been earmarked for this scheme, which would be inaugurated by Chief Minister V S Achuthanandan on September 3 here.