Team Blitz India
NEW DELHI: India is the third largest fish producing country in the world and accounts for 7.96 per cent of the global production. The total fish production during FY 2022-23 is estimated at 16.25 MMT.
Fisheries plays an important role in the national economy and the share of this sector in the total Gross Value Added (GVA), at Constant prices, in 2022-2023 is estimated at Rs. 1,37,716 crores. This constitutes about 1.09 per cent of the total national GVA and 6.72 per cent of agricultural GVA.
Since 2014-15, The Department of Fisheries supported the construction of about 38,992 ha of new aquaculture ponds and renovation of 8,573 ha of farms, and construction of 19 brood banks and 1,243 hatcheries apart from several other construction and modernisation.
Boosting fisheries sector The Integrated Development and Management of Fisheries initiative under the Blue Revolution Scheme was introduced in 2016. With an investment of Rs 3,000 crore, it has played a crucial role in advancing the fisheries sector.
In the Union Budget 2018, the then Finance Minister announced setting up a Fisheries and Aquaculture Infrastructure Development Fund (FIDF) with a corpus of Rs 7,522.48 crore. The fund was meant for fuelling infrastructure development in fisheries and aquaculture sector.
In 2020, Prime Minister Narendra Modi unveiled the Pradhan Mantri Matsya Sampada Yojana (PMMSY). The scheme intended to bring about the Blue Revolution through sustainable and responsible development of fisheries in India envisaging an overall investment of Rs 20,050 crore over a period of five years.
In the Union Budget 2023–24, a subscheme under PMMSY was announced with an investment of Rs 6,000 crore. The primary objective of PMMSY is to enhance fish production to an impressive 22 MMT by 2024–25.
