Union Budget 2025-26: ₹2,703.67 Crore Allocated for Fisheries Sector, Strengthening Sustainable Growth and Global Competitiveness

New Delhi: In the Union Budget 2025-26 tabled today in the Lok Sabha, the government proposed a historic total annual budgetary support of ₹2,703.67 crore for the fisheries sector, marking a 3.3% increase over the previous year’s allocation of ₹2,616.44 crore. This includes ₹2,465 crore allocated for the Pradhan Mantri Matsya Sampada Yojana (PMMSY), which saw a 4.8% increase from ₹2,352 crore in 2024-25. Union Finance Minister Nirmala Sitharaman, in her speech, highlighted India’s position as a global leader in aquaculture and seafood exports, underscoring the government’s commitment to enhancing financial inclusion, reducing burdens on farmers, and advancing marine fisheries development.

Sustainable Harnessing of Marine Resources

The Budget announcement focuses on fostering a sustainable framework for harnessing fisheries from India’s Exclusive Economic Zone (EEZ) and High Seas. Special emphasis is placed on the Lakshadweep and Andaman & Nicobar Islands, regions with significant untapped marine resources. India, with its vast 20 lakh sq. km EEZ and 8,118 km coastline, has the potential to harness a marine fish resource base of 53 lakh tonnes. The government aims to tap into high-value tuna and tuna-like species in the Indian EEZ, particularly around the Andaman & Nicobar Islands and Lakshadweep.

Strengthening Fisheries in Andaman & Nicobar and Lakshadweep

The development of the fisheries sector in these islands focuses on leveraging their vast marine territories for tuna fisheries and other related sectors. The Andaman & Nicobar Islands, with a marine fisheries potential of 1.48 lakh tonnes (including 60,000 tonnes for tuna), will see the establishment of tuna clusters, onboard processing facilities, and deep-sea tuna fishing vessels. Additionally, the Lakshadweep Islands, with an EEZ area of 4 lakh sq. km, is being positioned to utilize its potential of 1 lakh tonnes, including 4,200 tonnes for tuna fisheries. The government has notified a Seaweed Cluster development and is facilitating end-to-end value chains in partnership with private entrepreneurs, as well as encouraging the formation of women Self Help Groups (SHGs).

Enhanced Financial Accessibility for Fishers

The Union Budget 2025 also introduces an increase in the Kisan Credit Card (KCC) lending limit for fishers, farmers, and other fisheries stakeholders from ₹3 lakh to ₹5 lakh. This move aims to enhance credit accessibility and support working capital requirements in the fisheries sector. The increased credit availability will facilitate the adoption of modern farming techniques, boost rural development, and contribute to the economic stability of the sector.

Global Competitiveness in Seafood Exports

To enhance India’s global seafood market competitiveness, the Union Finance Minister proposed a reduction in Basic Customs Duty (BCD) on frozen fish paste (surimi) from 30% to 5%, encouraging the manufacturing and export of value-added seafood products, such as imitation crab meat sticks and shrimp analogues. Additionally, a reduction in import duty from 15% to 5% on fish hydrolysate, a key ingredient for aquafeed, will support the Indian shrimp farming industry by lowering production costs and increasing profits. This initiative is expected to boost India’s seafood exports while strengthening the domestic shrimp farming industry.

The allocation in the Union Budget 2025-26 positions the fisheries sector for transformative growth, aiming to ensure sustainable practices, expand India’s presence in global seafood markets, and provide enhanced financial support to stakeholders. These measures reflect the government’s vision of fostering inclusive economic development and strengthening India’s leadership in the global aquaculture and seafood industries.