Advancing India’s Fisheries: Record ₹2,761 Crore Budget Highlights Massive 106% Growth in Production
New Delhi, April 7, 2026 — In a major push to accelerate the “Blue Revolution” and uplift coastal and rural economies, the Union Budget 2026-27 has announced the highest-ever total annual budgetary support for India’s fisheries sector.
A staggering ₹2,761.80 crore has been allocated to the sector, marking a historic policy priority aimed at modernizing infrastructure, boosting exports, and providing crucial social security to millions of fishermen and fish farmers.
A Decade of 106% Growth
The massive budget allocation comes on the heels of phenomenal growth in the sector over the last decade. According to the data released by the government, India’s total fish output has more than doubled, surging from 95.79 lakh tonnes in FY 2013-14 to an impressive 197.75 lakh tonnes in FY 2024-25. This reflects a massive 106% increase over the period.
Simultaneously, India’s seafood exports have reached new heights, recording a value of ₹62,408 crore in FY 2024-25.
PMMSY Remains the Central Pillar
The Pradhan Mantri Matsya Sampada Yojana (PMMSY) continues to be the primary driver of this growth. Out of the total sector budget, ₹2,500 crore has been specifically earmarked for the PMMSY scheme for the 2026–27 fiscal year.
The scheme focuses heavily on adopting modern, eco-friendly fish-farming methods such as Recirculatory Aquaculture Systems (RAS) and Bio-floc technology, which allow for high-density farming using minimal land and water. Furthermore, a massive financial outlay of ₹6,000 crore has been dedicated to the sub-scheme PM-MKSSY (running from 2023–24 to 2026–27) to elevate the sector’s supply chains.
Financial Inclusion and Welfare
The government’s comprehensive approach also includes heavy investments in social security and financial stability for local fishers. Key welfare achievements highlighted in the latest Economic Survey include:
Kisan Credit Card (KCC): Institutional credit benefits have been successfully extended to over 4.39 lakh fishers.
Insurance Coverage: Around 3.3 million beneficiaries in the sector have been provided with insurance safety nets.
Livelihood Assistance: Financial support was extended to an average of 7.44 lakh fisher families to sustain them during the lean, non-fishing seasons.
To further stimulate private and entrepreneurial growth, the Fisheries and Aquaculture Infrastructure Development Fund (FIDF) has been officially extended until March 2026. This scheme offers interest subvention and a vital credit guarantee cover of up to ₹12.50 crore, significantly lowering the financial risks for individuals seeking to build cold-chain logistics, processing units, and modern fishing harbours.
