New Delhi, Feb 1 (KNN) Finance Minister Nirmala Sitharaman highlighted the government's steadfast commitment to the fisheries sector, underscoring its pivotal role in the nation's economy.

"It was our Government which set up a separate Department for Fisheries realising the importance of assisting fishermen. This has resulted in doubling of both inland and aquaculture production," stated Sitharaman during her budget speech.

The Finance Minister went on to outline the impressive growth in seafood exports since 2013-14, effectively doubling during this period.

A key highlight of the budget announcement was the government's determination to further boost the fisheries sector through the accelerated implementation of the Pradhan Mantri Matsya Sampada Yojana (PMMSY).

The Finance Minister outlined three key objectives to be achieved under this scheme.

Firstly, the government aims to increase aquaculture productivity from the existing 3 tons per hectare to an ambitious 5 tons per hectare.

Secondly, with a target of 1 lakh crore, the government aims to double seafood exports, promoting India as a major player in the global seafood market.

Lastly, the implementation of PMMSY is expected to generate a substantial 55 lakh employment opportunities in the near future, providing a significant boost to livelihoods in the fisheries sector.

Finance Minister Sitharaman also announced the establishment of five integrated aquaparks across the country for advanced aquaculture practices, research, and development, fostering innovation and growth in the fisheries sector.

As the budget proposals unfold, it is evident that the fisheries sector is poised for a significant transformation, with the government's proactive measures aimed at not only boosting production and exports but also creating a multitude of employment opportunities for the country's workforce.

The successful implementation of these initiatives is expected to position India as a global leader in the fisheries and aquaculture industry.

(KNN Bureau)