Inland fishery resources can be classified in terms of rivers, fresh water ponds, reservoirs and brackish water bodies (ponds for culture, term's farms for capture/filtration, lakes, swamps and estuaries). Some States have made an attempt to license the river stretches to the fishermen for a small fee but in view of the declining catches from the reverie resources, it is doubtful whether reverie fishermen in Gujarat can be made to pay anything. There is, however, a need for conservation of fish breeding and genetic resources in the reverie sector. The question of lease/royalty is important for the other three sub-systems of inland sector i.e. fresh water ponds, reservoirs and brackish water water-bodies. This paper is designed to highlight some of the critical elements in decision-making about the leasing of these water-bodies. The paper makes recommendations for the lease duration, rent and institutional support for each of the inland fishery sub-systems.