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Budget targets Rs 1 lakh cr fishery exports

Budget 2020 has placed special emphasis on the blue economy, with the Hon’ble Finance Minister Ms Nirmala Sitharaman elaborating that the government aims to raise fish production to 200 lakh tonnes in 2022-23. Besides, the government will focus on growing algae, sea-weed and cage culture. She further added, “Our government will involve youth in fishery extension through 3477 Sagar Mitras and 500 Fish Farmer Producer Organisations (Fish FPOs). We hope to raise fishery exports to Rs 1 lakh crore by 12024-25.”

“The 500 Fish Farmer Producer Organisations is a small number but a good start will take time for them to mature as they first need to be nurtured to become creditworthy,” said S Viswanatha Prasad, managing director, Caspian Advisors.