Government Approves ₹4,969 Crore Fund for Fisheries Development
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New Delhi, Nov 30 (NationPress) The government's Department of Fisheries has granted approvals for proposals amounting to ₹4,969.62 crore, with a central share of ₹1,823.58 crore during the previous four financial years (FY2020-21 to FY2023-24) and the current fiscal year (FY25) to uplift small fishing communities, support traditional fishers, and provide them with essential livelihood assistance.
In a written response to the Rajya Sabha, Minister of Fisheries, Animal Husbandry and Dairying Rajiv Ranjan Singh stated that these approvals fall under the Pradhan Mantri Matsya Sampada Yojana (PMMSY), which has been operational since FY2020-21, with a total investment of ₹20,050 crore aimed at comprehensive development of the fisheries sector and the welfare of fishers.
To encourage climate-resilient aquaculture, the Department, under PMMSY, is backing climate-smart mariculture initiatives such as seaweed and bivalve cultivation, open sea cage farming, the installation of artificial reefs, and sea ranching. These efforts are designed to lessen environmental impacts primarily affecting traditional and small-scale fishers. Proposals worth ₹115.78 crore have received approval for these initiatives.
Additionally, the Department of Fisheries has approved the acquisition of 480 deep-sea fishing vessels for traditional fishermen and the upgrade of 1,338 existing fishing vessels to enhance export capabilities, with an overall expenditure of ₹769.64 crore aimed at bolstering the livelihoods of traditional fishermen.
Under the PMMSY, financial support is also extended for livelihood and nutritional aid to approximately 5.94 lakh fishers annually for traditional and socio-economically disadvantaged marine and inland fishing families during the fishing ban period, along with insurance coverage for 131.13 lakh fishers, as highlighted by the Minister.
Since 2014, India’s annual fish production has nearly doubled to 17.5 million tonnes, with inland fishing now exceeding marine fishing, contributing 13.2 million tonnes.
India has emerged as the second-largest fish producer globally, with about 30 million people engaged in fish production across the value chain, accounting for approximately 8 percent of the world's total fish production.
