The news of the Department of Fisheries receiving a record-breaking Rs. 2584.50 crore allocation for the 2024-25 financial year marks a significant turning point for the Indian fisheries sector. This 15% increase over the previous year signifies the government’s commitment to unlocking the sector’s immense potential, not just for economic growth but also for food security and job creation.
Before 2014, the cumulative expenditure towards the fisheries sector since the first five-year plan stood at a mere Rs. 3680.93 crore. However, recognizing its potential, the government has since pumped in Rs. 6378 crore across various developmental activities. This Rs. 38572 crore targeted investment in the past nine years represents a pivotal shift in focus, positioning fisheries as a “sunrise sector” crucial for national progress.
The Pradhan Mantri Matsya Sampada Yojana (PMMSY), the sector’s flagship scheme, is being significantly bolstered to achieve ambitious goals. Aiming to double aquaculture productivity, enhance exports to Rs. 1 lakh crore, and generate 55 lakh employment opportunities, PMMSY promises transformative change. Establishing five integrated aquaparks will further contribute to sustainable and efficient resource utilization.
Recognizing the critical role of climate change, the government is launching Blue Economy 2.0. This initiative champions climate-resilient activities, restoration and adaptation measures, and the development of coastal aquaculture and mariculture with an integrated and multi-sectoral approach. This ensures long-term sustainability and environmental responsibility within the sector.
The fisheries sector isn’t just about economic figures; it’s about people. With 30 million individuals, particularly from marginalized communities, relying on it for their livelihoods, the sector plays a vital role in social well-being. The record fish production of 175.45 lakh tons in FY 2022-23 highlights its potential to contribute to national food security and nutritional needs.
Carving out a dedicated Department of Fisheries in 2019 and equipping it with schemes like PMMSY and FIDF demonstrates the government’s sustained commitment. This, coupled with the record-breaking budget allocation, sets the stage for an “Amrit Kaal” of growth for the Indian fisheries sector. With focused policy interventions, financial support, and a dedication to sustainability, the future holds immense potential for empowering communities, ensuring food security, and establishing India as a global leader in the blue economy.
