National Cooperative Development Corporation (NCDC) has expressed its commitment to sanction a Rs 1,000 crore loan to the Telangana State Fisheries Federation (TSFF). This financial support is aimed at facilitating the effective implementation of the ongoing Integrated Fisheries Development Scheme in the state. Notably, the Corporation had previously released a loan of Rs 600 crore for the successful execution of the scheme’s first phase.
During a recent meeting at the NCDC headquarters in Delhi, TSFF Chairman Pittala Ravinder and Vice-Chairman Diti Mallaiah held discussions with NCDC Executive Director Ashok Pillai and Deputy Director Patil Nilesh Suresh. They provided insights into the positive impact of the Integrated Fisheries Development Scheme’s first phase, highlighting that approximately 1.18 lakh fishermen had directly benefited from the initiative.
In their discussions, the TSFF officials urged the NCDC to expedite the approval of pending proposals from the Telangana government for the implementation of the second phase of the scheme in the state. In response to these appeals, NCDC officials responded positively, assuring the Federation authorities of their commitment to release a Rs 1,000 crore loan. The NCDC emphasized the need for the State government to submit comprehensive proposals for the second phase, paving the way for necessary action.
This financial support from the NCDC is expected to further bolster Telangana’s efforts in the fisheries sector, building upon the success of the initial phase of the Integrated Fisheries Development Scheme. The allocation of funds underscores the importance of cooperative initiatives and financial support in promoting sustainable development within the fisheries industry.
