Sitharaman Proposes Highest-Ever Annual Budgetary Support for Fisheries Sector

The Union Budget, tabled in the Lok Sabha by Finance Minister Nirmala Sitharaman, proposes the highest ever total annual budgetary support of Rs. 2,703.67 crores for the fisheries sector.

- STATESMAN NEWS SERVICE

This overall allocation for the financial year 2025-26 has increased by 3.3 per cent in comparison to the allocation of Rs 2,616.44 crore (BE) made during last year 2024-25. This includes the allocation of Rs 2,465 crore for Pradhan Mantri Matsya Sampada Yojana during the year 2025-26 that has increased by 4.8 per cent in comparison to the allocation made for the scheme during the year 2024-25 (Rs 2,352 crore).

Ms Sitharaman, in her budget speech, highlighted India's achievement as a leader in aquaculture and seafood exports. The budget announcement strategically focuses on enhancing financial inclusion, reducing financial burden on farmers by reducing custom duties and furthering development of the marine fisheries.

The Budget 2025-26 highlights enabling a framework for sustainable harnessing of fisheries from Exclusive Economic Zone (EEZ) and High Seas with special focus on Lakshadweep and A&N Islands. This will ensure sustainable harnessing of the untapped potential of the marine fish resources in the Indian EEZ and adjacent High Seas for growth in the marine sector.