Teji Mandi: Blue economy – Favorable policy measures offer long term growth prospects

Budgetary provisions :

Recognizing the potential of fisheries, the Indian government has been constantly increasing its focus on this sector. In line with this, the finance minister has allocated an amount of Rs 1220.84 crore in FY 21-22 for the fisheries department. It is the highest ever annual budgetary support for the Department, 34% increase over the previous budget.

The Finance Minister also announced a substantial investment to develop modern fishing harbors. To start with, 5 major fishing harbors – Kochi, Chennai, Visakhapatnam, Paradip, and Petuaghat – will be developed as hubs of economic activity. These centers will be upgraded and modernized with state-of-the-art infrastructure and amenities. Substantial investment to…

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