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Budget gives big push to fisheries sector with record allocation & export boost
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Tuesday, 03 February, 2026, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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The Union Budget 2026–27 has laid out a strong and forward-looking roadmap for the growth of India’s fisheries sector, underlining the government’s commitment to strengthening coastal and inland fisheries while improving global competitiveness. The Budget proposes the highest-ever annual allocation of Rs 2,761.80 crore for the sector, with Rs 2,530 crore earmarked for scheme-based support, directly benefiting fishers, fish farmers, and allied stakeholders.
At the heart of this push is the continued focus on the Pradhan Mantri Matsya Sampada Yojana (PMMSY), which has been allocated Rs 2,500 crore for the financial year 2026–27. PMMSY remains the flagship programme aimed at enhancing fish production, improving infrastructure, modernising the value chain, and increasing incomes of fishing communities across the country.
A key highlight of the Budget is the proposal for the integrated development of 500 reservoirs and Amrit Sarovars, particularly to strengthen the coastal fisheries value chain. This initiative is expected to boost aquaculture, promote water conservation, and create new livelihood opportunities by involving startups, women-led enterprises, and Fish Farmer Producer Organizations (Fish FPOs). With over 31.5 lakh hectares of inland water bodies, India has significant untapped potential to expand inland fisheries and reservoir-based aquaculture.
To further enhance export competitiveness, the Budget has proposed several trade-friendly measures. Fish catch by Indian vessels in the Exclusive Economic Zone (EEZ) and high seas will be made duty-free, while landings at foreign ports will be treated as exports. Additionally, the duty-free import limit on certain seafood processing inputs has been increased from 1% to 3%, reducing input costs and supporting compliance with global quality standards.
Collectively, these measures are expected to strengthen value addition, boost seafood exports, generate employment, and improve the socio-economic conditions of fishing communities, reinforcing India’s position as a major player in the global fisheries and seafood market.
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