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"Annual Insurance Premium for Boat Owners" under "Financial Assistance for Availing Subsidy Components for the Development of Marine Fisheries"

"Annual Insurance Premium for Boat Owners" under "Financial Assistance for Availing Subsidy Components for the Development of Marine Fisheries" is introduced to increase marine fish production through subsidies for the annual premiums for insurance coverage paid by the mechanized boat operators.

Authority

State/ UT

Region

Puducherry

Status

Verified 2026

Updated

March 2026

What you get

50% subsidy subject to a maximum of ₹ 20,000 per boat on annual insurance premium. | The rate of subsidy/maximum limit may be revised by the Government from time to time.

Who can apply

The applicant should either belong to the fishermen community or be one of those professionally engaged in fishing/fish trade occupation on a full-time basis/prospective entrepreneurs.; The applicant must have resided in the Union territory of Puducherry for a continuous period of not less than five years at the time of applying for extending subsidies/ grants.; The applicant must have been enrolled as a member of the Fishermen Co-operative Society and be above the age of 23 years and below 60 years.; The applicant must not have been a recipient of Old Age Pension, issued by the department.; The applicant should not be employed in Government/ Government Undertakings/Fishermen Co-operative Society.; The applicant must not have any dues to be paid to the Department/Fishermen Co-operative Societies at the time of making the application.; The applicant should possess a registered mechanized boat.; The applicant should have insured the boat on an annual basis with the authorized insurance company.

Required Paperwork

  • Aadhaar Card
  • PAN Card
  • Income Certificate
  • Residence Proof (Domicile)

Common Questions

Can a person engaged in fish trade qualify for subsidies?

Yes, individuals engaged in fishing or fish trade occupations, including fish traders, are eligible for subsidies under these rules.

Can applicants with outstanding dues qualify for subsidies?

No, applicants must not have any outstanding dues to the Department/Fishermen Co-operative Societies at the time of application to be eligible for subsidies.

What role do Insurance Companies play in these rules?

Insurance Companies, as mentioned, are entities authorized for providing coverage for marine risks to fishing boats, a crucial aspect for registered mechanized boat operators as per the rules.

What is the timeline for shortlisting eligible beneficiaries after field inquiry work commences?

Eligible beneficiaries are shortlisted within 60 days from the commencement of field inquiry work, ensuring a prompt and efficient selection process.

Can applicants be above the age of 60 and still qualify?

No, applicants must be below the age of 60 to be eligible for subsidies and grants under these rules.

Who comprises the Departmental Selection Committee for the Puducherry region?

The Committee includes the Director of Fisheries and Fishermen Welfare, Joint Director, Deputy Director (Welfare), Secretary of Puducherry State Fishermen Co-operative Federation Limited, and Deputy Director (Mechanisation).

What is the role of the Departmental Selection Committee in the selection process?

The Committee, headed by the Director of Fisheries and Fishermen Welfare, is responsible for selecting beneficiaries based on shortlisted eligible applicants, ensuring a fair and transparent process.

What is the maximum annual subsidy provided for boat insurance, and how is it determined?

The maximum annual subsidy is 50% of the insurance premium, capped at [?]20,000 per boat. The Government may revise the subsidy rate or limit periodically.

How does the Government determine the rate of subsidy for boat insurance, and is there a possibility of changes over time?

The Government periodically reviews and may revise the rate of subsidy, considering factors affecting the insurance premium and overall scheme dynamics.

Is the maximum limit of ₹20,000 for annual insurance subsidy subject to change, and how is it determined?

The maximum limit of [?]20,000 per boat for the annual insurance subsidy is subject to potential revisions by the Government based on policy evaluations.

What factors contribute to the Government's decision to revise the rate of subsidy for boat insurance?

The rate of subsidy may be adjusted by the Government in response to changes in insurance dynamics, economic factors, or policy considerations.

Can an applicant qualify for the subsidy if their boat is not registered as mechanized?

No, eligibility requires ownership of a registered mechanized boat to avail the subsidy on the annual insurance premium.