Under the initiative taken up under the "Blue Revolution" scheme, the Centre would allocate Rs 1,500 crore over a period of time for conversion of bottom trawling boats into deep sea liners.
Handing over the sanction letters to select beneficiaries of the Long Line Trawlers under the scheme at a public meeting here, Modi said it would help fishermen to get better revenue and overcome problems of fishing in the Palk Strait.
"I wish to thank Prime Minister Modi for extending financial assistance of Rs 200 crore this year for conversion of the bottom trawling boats to deep sea long liners ... And for launching this scheme today," he said.
Under the Blue Revolution scheme, Rs 100 croe was allotted and as a Special Financial Package Rs 100 crore was sanctioned by the Centre for this initiative, he noted.
In May this year, he too had made the demand, he recalled.
Along with the Centre's contribution of Rs 200 crore, the state government too allotted Rs 86 crore for the conversion of bottom trawlers to long liners, he said.
In the first phase, a total of 500 bottom trawlers will be converted into long liners at the cost of Rs 286 crore, he said adding a total of 2,000 bottom trawlers will be customised as long liners at a cost of Rs 1,621 crore in three phases.
The use of bottom trawlers by the state fishermen was being vehemently opposed by Sri Lankan government, whose navy often arrests them on charge of poaching.
Deep sea liners are expected to help fishermen make a turnaround in their fortunes against such a background.
Palaniswami also requested Modi to "kindly use your good office to persuade" the Sri Lankan Government to release all the 75 Tamil Nadu fisherman and 149 fishing boats in its custody.
Thanking Modi for such initiatives, he sought the Centre's
nod for a Rs 78.17 crore improvement scheme to further upgrade the civic amenities for Rameswaram.
He said the opening of the new highway upto the Arichalmunai point from Mukuntharoyar Chatiram at Dhanuskodi was a 50-year dream come true for the Rameswaram people.
Palanisamy also drew parallel between Kalam and Modi, saying both belonged to "small villages, poor background and have reached great height by sheer hard work, honesty, integrity, sharp intellect and self confidence.
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