Palk Bay scheme

Palk Bay scheme

Part of: Prelims and GS II – Policies and interventions

Context The Union Government is considering increasing the unit cost of deep-sea fishing vessels under the Palk Bay scheme to make it more attractive to fisherfolk.

• The original unit cost of Rs. 80 lakh was “inadequate” [to meet the requirements of the fisherfolk].

About Palk Bay scheme

• It was Launched by the Prime Minister in July 2017.
• It is being financed by the Union and the State Governments with beneficiary participation.
• It envisages the provision of 2,000 vessels in three years to the fishermen of the State to motivate them to abandon bottom trawling. 

What is bottom trawling?

• Bottom trawling, an ecologically destructive practice, involves trawlers dragging weighted nets along the sea-floor, causing great depletion of aquatic resources.