The Chief Minister, Dr Y.S. Rajasekhar Reddy announced a series of incentives to fishermen including waiving off loans of Rs 40.72 crore availed by them from Fishermen Finance Corporation. Making an announcement in this regard in the Assembly, the Chief Minister said insurance coverage to fishermen would be increased from Rs 50,000 to Rs 1 lakh from April 2008. Besides insurance, family of fishermen who lost their lives in natural calamities and accidents will be paid an ex-gratia of Rs 1 lakh each, he said. Admitting that there was inordinate delay in payment of insurance and ex-gratia to the families of fishermen who were reported missing, the Chief Minister said the state government had decided to give Rs 10,000 immediately in such cases and pay the remaining Rs 90,000 after one year. Reacting sharply to the Opposition's criticism that the incentives were poll oriented, the Chief Minister said the Telugu Desam had no moral right to criticise him.