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Coronavirus relief: Govt announces Rs 20,000 crore for fisheries in Tranche III to boost yield, exports

Of the Rs 20,000 crore corpus under PMMSY, Rs 11,000 crore will be used for marine and inland fisheries as well as aquaculture, and Rs 9,000 crore for fishing harbours, cold chain, markets, etc

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Coronavirus relief: Govt announces Rs 20,000 crore for fisheries in Tranche III to boost yield, exports

Finance Minister Nirmala Sitharaman has announced Rs 20,000 crore to promote fishing activities in India, with focus on boosting production and exports in the sector. Announcing the measures for agricultural sector under the Rs 20 lakh crore stimulus package, the Finance Minister said that the funds under Pradhan Mantri Matsya Sampada Yojana (PMMSY) will be used for plugging critical gaps in fisheries value chain.

"Pradhan Mantri Matysa Sampada Yojana was announced during the Budget, but the amount and the provisioning and also making sure that critical gaps are getting filled are all now getting through and we are announcing it for execution immediately, " said the Finance Minister.

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"We expect it will give employment to about 55 lakh people. And it will help in doubling India's exports to reach Rs 1 lakh crore. We also hope that this will bring in better standards and traceability, laboratory networks will be provided, new fishing vessels can be given for fishermen, new fishing harbours can also be built," she added.

Cage culture, seaweed farming, ornamental fisheries will also be part of the key activities. The focus will be on islands, Himalayan states, North-eastern states and aspirational districts.

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The funds under Pradhan Mantri Matsya Sampada Yojana will also be used to help fishermen during the period fishing is not permitted, and providing personal and boat insurances to them. All these measures will lead to additional fish production of 70 lakh tonnes over 5 years.

Of the Rs 20,000 crore corpus under PMMSY, Rs 11,000 crore will be used for marine and inland fisheries as well as aquaculture. The remaining Rs 9,000 crore will be used for fishing harbours, cold chain, markets, etc.

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