News Update

India’s exports marginally dips into minus in March monthDiversion of goods imported under Advance Licence to Open Market: Mens rea upheldSeasonal rainfall likely to be 106 % of Long Period Average: IMDWorkshop held for Eco-friendly Measures for Holistic National Highway DevelopmentI-T- Mere existence of power to assess or reassess six AYs' immediately preceding AY corresponding to year of search or 'relevant assessment year' would not justify invocation of Section 153C - HCWhat was Biden’s income in 2023? - ITR shows USD 6.2 lakhI-T - Act & Rules thereto provide a method for service of notices & orders; communication of notices before any action is taken, is mandatory: HCMumbai Police nabs two shooters involved at random firing at Salman’s houseI-T- Assessee cannot be expected to be logged in to I-T portal at all times, so as to be notified of actions taken by Department: HCIRS fears spurt in crypto tax evasion casesI-T - Expenses written off is only allowable if assessee offers said amount as income in previous years: HCBreast cancer to kill over 10 lakh women by 2040: Lancet ReportI-T- Deduction u/s 35(1)(ii) in respect of donation made to scientific research institute, is rightly denied, where no evidence is furnished to show valid approval was taken from prescribed authority for taking donation: ITATChina’s bubble tea stirs global buzzI-T- Penalty imposed u/s 271(1)(c) merits being quashed where exact charge between concealment of facts and furnishing inaccurate particulars of income, are not specified : ITATSamsung gets USD 6.4 bn in subsidy for Texas chip productionI-T- Penalty is unwarranted where the complete factual data pertaining to Assessee's claim was also available before AO during the course of assessment : ITATIndia to resume FTA talks with EU next monthI-T- Assessee has not involved in manipulation of stock prices for purpose of earning bogus LTCG : ITATPM says he has big plans for countryTCS to hire 25K freshers in 2025GST - Retrospective cancellation of registration - Complete non-application of mind - Order refers to a reply filed whereas fact is that the proprietor had passed away and no reply had been filed: HCElection Commission seizes over Rs 4600 Cr cash - highest for LS pollsGST - Proper officer has not applied his mind but dismissed the reply submitted as not satisfactory - Order set aside and matter remitted: HCIMD says it is likely to be above-normal Monsoon for IndiaProtesters demanding restoration of monarchy and Hindu State lathicharged in Kathmandu
 
India's fisheries resources stand over-exploited: Agri Minister

By TIOL News Service

NEW DELHI, MAY 18, 2018: The Union Minister of Agriculture and Farmers' Welfare, Mr Radha Mohan Singh, yesterday addressed, the Fisheries Ministers of Coastal states and Union Territories and stated that the Government has made a budget provision of Rs 7,522.48 crore for the establishment of Fisheries and Aquaculture Infrastructure Development Fund (FAIDF) which has the potential to benefit 40 lakh marine and inland fishermen, especially women, self-help groups, weaker sections by making available modern infrastructure facilities and increased value of the produce. He said like farmers, fishermen will also get the benefit of 'Kisan Credit Card'.

The Union Agriculture Minister expressed happiness that the new "National Policy on Marine Fisheries" was notified by the Ministry of Agriculture on May 1, 2017 after detailed discussions with stakeholders. This, he said, will promote the integrated development of marine fisheries in the country for the next 10 years. For an effective implementation of the policy, the Centre and the coastal states will have to work together.

Mr Singh said according to estimates by scientists, existing marine fisheries' resources are over-exploited up to 200 meters depth from the mainland, thereby posing serious threat to the livelihood of traditional fishermen. The area of 200 meters depth lies within 12 nautical miles and is a subject matter of state governments. Therefore, under the National Policy on Marine Fisheries, a sustainable and responsible fishing must be ensured by the states. He appealed to the state governments to take all necessary steps to ensure sustainable fishing.

He appealed the States to fix fleet size, gear size, minimum legal size of fish, and minimum net size in their respective territorial waters to ensure proper utilization of marine fishery resources through fisheries management.

Agriculture Minister further informed that the Central Government has imposed a ban on the use of harmful fishing methods in EEZ such as LED or artificial light and pair trawling on November 10, 2017. He appealed to all the states to stop such harmful practices in their respective territorial waters. He also called upon the states to adopt mariculture to increase the income of fishermen. Mr Singh further added that owing to low prospects of fisheries production along the coast, the government has decided to promote deep sea fishing and has introduced a sub-component 'Assistance for Deep Sea Fishing' under the Blue Revolution.

Mr Singh further said that under this scheme, self-help groups of traditional fishermen are being given 50 per cent of the vessel cost i.e. the central assistance of Rs 40 lakh for vessel costing up to Rs 80 lakh. Advanced and modern deep sea fishing vessels will be built in the country by indigenous technology. He informed that in the first year, central funds amounting to more than Rs 300 crore have been released for the implementation of this scheme benefitting fishermen from states like Tamil Nadu, Andhra Pradesh and Gujarat.


POST YOUR COMMENTS
   

TIOL Tube Latest

Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.




Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.