Union Budget Announces Record ₹2,761.80 Crore Support for Fisheries Sector

New Delhi: The Union Budget 2026–27, tabled in the Lok Sabha today, has accorded the highest-ever annual budgetary support of ₹2,761.80 crore to the fisheries sector, underlining the Government’s strong focus on strengthening livelihoods, boosting exports and promoting sustainable growth in India’s blue economy.

Out of the total allocation, ₹2,530 crore has been earmarked for scheme-based interventions, ensuring direct benefits for fishers and fish farmers. The Pradhan Mantri Matsya Sampada Yojana (PMMSY) continues to remain the cornerstone of fisheries development, with an allocation of ₹2,500 crore for the financial year 2026–27.

Presenting the Budget, Union Finance Minister Nirmala Sitharaman announced a major initiative for the integrated development of 500 reservoirs and Amrit Sarovars, aimed at strengthening the fisheries value chain, particularly in coastal areas. The initiative will promote market linkages involving start-ups, women-led groups and Fish Farmer Producer Organisations (Fish FPOs), enhancing income opportunities and entrepreneurship in the sector.

India has one of the world’s largest inland reservoir networks, spanning around 31.5 lakh hectares, offering immense potential for inland fisheries. Under Mission Amrit Sarovar, the Government has already developed 68,827 Amrit Sarovars, including 1,222 water bodies linked to fisheries, supporting fish farming, water conservation and aquatic biodiversity.

A key thrust of the Budget is on strengthening the fisheries value chain in coastal areas by integrating primary producers with processing, marketing and export ecosystems. The initiative seeks to reduce post-harvest losses, improve price realisation for fishers and ensure stronger last-mile market access. As part of this effort, around 200 fisheries start-ups will be supported with domain expertise to drive innovation, technology adoption and enterprise development. Additionally, 34 designated production and processing clusters will directly benefit, enabling cluster-based growth and efficiency.

The Department of Fisheries is already promoting cooperatives, Fish FPOs and start-ups under PMMSY and PMMKSSY. Together, these interventions are expected to benefit nearly 50 lakh individuals in coastal areas, including fishers, fish farmers and primary producers linked to domestic and export-oriented seafood value chains.

To create new export opportunities beyond territorial waters, the Budget proposes that fish catch by Indian vessels in the Exclusive Economic Zone (EEZ) and high seas will be made duty-free. Further, landing such catch at foreign ports will be treated as export of goods, with safeguards to prevent misuse during transit or transshipment.

India’s extensive 11,099 km coastline and EEZ of about 24 lakh square kilometres support the livelihoods of over 50 lakh members of the fishing community across 13 maritime States and Union Territories. To ensure sustainable exploitation of marine resources, the Government has notified the Rules for Sustainable Harnessing of Fisheries in the EEZ and the Guidelines for Sustainable Harnessing of Fisheries in the High Seas, 2025.

Boosting export competitiveness further, Budget 2026–27 enhances the limit for duty-free import of specified inputs used in seafood processing for export from 1 per cent to 3 per cent. This measure is expected to lower input costs, help processors meet stringent international quality standards and improve efficiency. Exporters catering to key markets such as the European Union, South Korea, the UK and Japan are likely to benefit significantly.

Collectively, the Budget measures are expected to strengthen India’s position in global seafood markets, promote value addition and product diversification, increase foreign exchange earnings, generate employment and support the socio-economic development of coastal and inland communities, while ensuring sustainable and resilient growth of the fisheries sector.