Finance Minister Urges Fisherfolk to Leverage Government Schemes for Business Growth

Finance Minister Urges Fisherfolk to Leverage Government Schemes for Business Growth

Union Finance Minister Nirmala Sitharaman has encouraged the fishing community to take full advantage of government schemes like the Kisan Credit Card (KCC) to boost their livelihoods and business prospects. Speaking at a BJP membership drive, Sitharaman highlighted the numerous benefits available to fishermen through various financial tools and welfare programs.

Sitharaman emphasized that fishermen who have faced challenges in securing loans from banks and financial institutions should not hesitate to reach out for assistance. “If your loan applications have been rejected, you can approach me for redressal,” she assured.

Acknowledging Prime Minister Narendra Modi’s commitment to improving the fishing industry, Sitharaman noted that a dedicated Department of Fisheries was established to specifically address issues faced by this community. She added that the Kisan Credit Card, initially designed to support farmers, has been extended to benefit those engaged in ocean farming, along India’s extensive coastline.

“It’s not just for the fishermen in Tamil Nadu but for all communities living along India's coastline for generations,” Sitharaman said. She also emphasized that women from these communities are equally eligible for term loans under the KCC scheme, which provides government-backed loans without the need for personal assets as collateral.

“Normally, banks ask for security like house deeds or jewelry when granting loans. But with the KCC, the government stands as your guarantor, making the process easier and more accessible,” she explained. Sitharaman urged the fishing community to utilize this opportunity for affordable loans and improve their trade.

The Finance Minister also highlighted the potential for fishermen to increase their income by focusing on exports. “Prawns and shrimps sold in international markets fetch better prices than domestic sales. You should explore exporting to boost your businesses,” she advised.

In addition to the KCC, Sitharaman pointed out another initiative, the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi), which provides collateral-free working capital loans to street vendors, further supporting economic independence.

The BJP membership drive saw Sitharaman promoting the party’s inclusive approach, noting that the BJP allows individuals from all backgrounds to rise to leadership positions. “We are the largest party, not just by physical structures but by our diverse membership. Unlike other parties focused on family legacies, the BJP encourages anyone to become a leader,” she said.

Concluding her address, Sitharaman posed for photographs with new BJP members, encouraging more people to join and strengthen the party.