Big Boost for Fisheries in Budget 2026–27: Record ₹2,761 Crore Allocation to Benefit Fishermen

Central government has given a major push to the fisheries sector in the Union Budget 2026–27 by proposing a record annual allocation of ₹2,761.80 crore the highest ever for this segment. The move reflects the growing importance of fisheries in India’s economy. Out of the total outlay, around ₹2,530 crore will be channelled directly to farmers and fishermen through various government schemes.

Fisheries Emerging as a Key Pillar of Rural Economy:

India is currently the world’s second-largest fish producer, contributing nearly 8% to global output. The sector plays a crucial role in coastal and rural economies by supporting livelihoods, enhancing income, and strengthening food security. Its share in agricultural Gross Value Added (GVA) has reached about 7.43%, underlining its rising economic significance.

Fish Production Doubles with 106% Growth:

Over the past decade, the fisheries sector has recorded impressive growth. Fish production increased from 95.79 lakh tonnes in 2013–14 to 197.75 lakh tonnes in 2024–25, marking a 106% rise.
At the same time, marine exports have surged to ₹62,408 crore, with frozen shrimp continuing to dominate exports. The United States and China remain the key international markets, highlighting the sector’s expanding global competitiveness.

Government Schemes Benefit Millions of Fishermen:

Various government initiatives have significantly improved the livelihoods of fishermen:

• 4.39 lakh fishermen have received benefits under the Kisan Credit Card (KCC) scheme 
• 33 lakh beneficiaries have been covered under insurance schemes 
• Around 7.44 lakh fishing families have received livelihood support 

Additionally, during fishing ban periods, about 4.33 lakh families were provided nutritional and financial assistance, strengthening their income stability and social security.

Pradhan Mantri Matsya Sampada Yojana Drives Sector Growth:

This flagship scheme continues to be the backbone of fisheries development, with an allocation of ₹2,500 crore for 2026–27.

Under the scheme:

• 23,285 hectares of ponds have been developed 
• 52,058 reservoir cages installed 
• 27,189 fish transport units created 
• 634 value addition units (including ice plants and cold storage) established 
• 6,896 fish markets and kiosks set up 

These initiatives have strengthened the entire value chain—from production to market access.

Focus on FFPOs and Employment Generation:

As per the Economic Survey 2025–26, an investment of ₹544 crore has led to the formation of 2,195 Fish Farmer Producer Organizations (FFPOs), improving market access and financial inclusion.
Since 2014–15, fisheries-related schemes have generated an estimated 7.466 million (74.66 lakh) direct and indirect employment opportunities.
Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana to Enhance Incomes
This sub-scheme under PMMSY is being implemented from 2023–24 to 2026–27 with a total outlay of ₹6,000 crore. It aims to boost fishermen’s income, promote modern technologies, and further strengthen the fisheries ecosystem across the country.

FAQs:

1. What is the total budget allocation for fisheries in 2026–27?
The central government has proposed ₹2,761.80 crore, the highest ever for fisheries.

2. How many fishermen benefit from the Kisan Credit Card (KCC) scheme?
Around 4.39 lakh fishermen have received benefits under KCC.

3. What is the role of Pradhan Mantri Matsya Sampada Yojana?
PMMSY strengthens the fisheries value chain by supporting pond development, transport units, and market access.

4. How many Fish Farmer Producer Organizations (FFPOs) are formed?
As of 2026, 2,195 FFPOs have been created with government support.

5. How does Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana boost fishermen’s income?
This sub-scheme promotes modern technologies, supports livelihoods, and ensures better earnings for fishermen across India.