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India’s New Plan Gives Fish Farmers Insurance Money Help

India’s aquaculture sector, which now provides about 74 % of the country’s fish, faces risks such as disease, floods and cyclones.

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Key Points

4 points
1

Aquaculture production rose from 9.6 million to 19.8 million tonnes between 2013‑14 and 2024‑25.

2

The insurance incentive aims to make risk management affordable and encourage continued investment.

3

Four public insurers currently provide coverage; private insurers are being added.

4

Timely claim settlement and transparent assessment are crucial for farmer confidence.

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Summary

The Prime Minister’s Fish Farmer Support Scheme offers a one‑time incentive covering up to 40 % of the insurance premium for a single production cycle.

Eligible pond farms can receive up to 25,000 rupees per hectare, with a maximum of 1 lakh rupees, while advanced systems like cage culture have the same percentage limit.

Additional 10 % extra incentive is available for scheduled‑caste, scheduled‑tribe and women beneficiaries, and claims are settled within 30‑45 days.

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New Words to Learn

12 words
aquaculture
The practice of raising fish, shrimp and other water animals in controlled environments such as ponds, tanks or cages.
insurance
A financial service that gives money to a farmer if a disaster damages the fish crop.
premium
The amount paid regularly to keep the insurance policy active.
incentive
A financial benefit offered to reduce the cost of buying insurance.
crop cycle
The full period from stocking fish in a farm until they are harvested.
cage culture
A method where fish are kept in cages placed in natural water bodies.
Recirculatory Aquaculture Systems
A high‑tech fish farm that cleans and reuses its water continuously.
biofloc
A technique that uses tiny natural particles to keep water healthy for fish.
subsidy
Money the government adds to lower the price of a service or product.
claim
A formal request to the insurance company for payment after a loss.
assessment
The process of evaluating the amount of damage before paying a claim.
transparent
Open and clear, so everyone can see how decisions are made.
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