Blitz Bureau
NEW DELHI The Union Budget 2024-25 has hiked the allocation for the Department of Fisheries by 54 per cent to Rs 2,616.44 crore from Rs 1,701 crore (Revised Estimates) during 2023-24. As much as Rs 2,352 crore of the total outlay has been allocated for the Pradhan Mantri Matsya Sampada Yojana (PMMSY) scheme which is a 56 per cent increase over the outlay of Rs 1,500 crore for 2023-24.
Sitharaman announced plans for setting up a network of Nucleus Breeding Centre (NBC) for high-quality shrimp brood stocks. Further, financing for shrimp farming, processing, and export will be facilitated through NABARD. The establishment of state-of-the-art facilities in NBCs will improve the genetic quality of aquaculture species for higher productivity and quality, and reduce the dependence on the import of shrimp brood stock, according to the Department of Fisheries. This is a welcome step to promote the shrimp industry, as shrimp is a major contributor to seafood export.
Shrimp exports have significantly growth to Rs 40,013 crore in 2023-24 from Rs 8,175 crore in 2011. In 2023-24, the export of frozen shrimp was to the tune of 7.16 lakh tons worth Rs. 40,013 crore.
India also stands at 2nd in aquaculture production and is one of the top shrimp-producing and seafood-exporting nations in the world. The sector provides sustainable livelihoods to over 30 million people mostly within the marginalised and vulnerable communities.
