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Budget 2020: Export target of USD 14 BN set for aquaculture sector

01 Feb 2020

Indian finance and corporate affairs minister, Mrs Sitharaman while presenting 2020-21 budget has set a target of USD 14 billion (INR 1 lakh crore) from blue economy exports

NEW DELHI, 1 February 2020: Indian finance and corporate affairs minister, Mrs Nirmala Sitharaman while presenting 2020-21 budget has set a target of USD 14 billion (INR 1 lakh crore) from blue economy exports.

She also proposed to put in place a framework for development, management and conservation of marine fishery resources and promotion of algae, seaweed and cage culture that will assist in raising fish production to 20 million tonnes by 2022-23.

In her budget speech said that “our government will involve youth in fishery extension through 3477 sagar mitras and 500 fish farmer producer organizations. We hope to raise fishery export to USD 14 billion (INR 1 lakh crore) by 2024-25”.

Following the spirit of Co-operative Federalism, Mrs Sitharaman also proposed to encourage those states governments who undertake implementation of Model Agricultural Land Leasing Act, 2016; Model Agricultural Produce and livestock Marketing (Promotion and Facilitation) Act, 2017 and Model Agricultural produce and Livestock Contract Farming and services (Promotion and Facilitation) Act, 2018.

 

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