Proposal to promote high-seas fishing beneficial

THE Union budget gives stress to the fishing sector to tap the potential of the marine sector by enabling a framework for harnessing fisheries from India's Exclusive Economic Zone and the high seas which can be beneficial for Kerala's fisheries sector.

- EXPRESS NEWS SERVICE @Kochi

Aiming to enhance India's competitiveness in the global seafood market, the budget proposes to reduce the basic customs duty on frozen fish paste from 30% to 5% for the manufacture and export of its analogue products.

The basic customs duty on fish hydrolysate for manufacture of fish and shrimp feed has been reduced from 15% to 5%.