New Delhi, Feb 6 (KNN) The Ministry of Fisheries, Animal Husbandry & Dairying on Sunday noted that the allocation of an amount of Rs 2248.77 crore announced for the Department of Fisheries in union budget FY24 marks an overall increase of 38.45 per cent as compared to the budget of FY 2022-23.

It is as against the corresponding figure of Rs 1624.18 crore during 2022-23 and Rs 1360 crore during 2021-22 for the Department of Fisheries.

The Ministry has highlighted it to be one of the highest ever annual budgetary support for the Department.

Further, Union Finance Minister Nirmala Sitharaman has announced a new sub-scheme named Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY).

It is Central Sector Sub-scheme under PMMSY with targeted investment of Rs 6,000 crore with the objective to enhance further the earnings and incomes of fishermen, fish vendors and micro & small enterprises engaged in fisheries sector.

PM-MKSSY envisages focussed intervention to bring about formalization of the fisheries sector.

It includes digital inclusion, facilitating access to institutional finance for capital investment and working capital, incentives to bring about system and institutions to reuce risk in aquaculture and fisheries incentivizing microenterprises operating in fisheries and aquaculture sector.  (KNN Bureau)