The boat building industry in Lakshadweep Islands is not dormant owing to shortage of funds. As reported by Union Territory of Lakshadweep Administration (UTLA), boat building has been taken over by the people in Lakshadweep Islands and the quantum of work in the government boat building yard is less.
However, UTLA provides financial assistance for boat building. For multi day fishing vessels, 50 percent of the construction cost limiting to Rs 25 lakh is provided to each beneficiary.
Similarly, for Lakshadweep type pole and fishing boats, 40 percent on hull and 50 percent on engine, upto a maximum of Rs 10 lakh, is reimbursed under the existing schemes.
This information was given by GK Vasan, Union Minister for Shipping, in a written reply to a question in the Lok Sabha.
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