New Delhi: The union budget 2024-24 aims to drive the aquaculture sector forward by enhancing financial support, focusing on sustainable development and increased profitability.
The Fisheries and Aquaculture Development Fund (FIDF) will receive increased funding and subsidies for advanced aquaculture equipment, modernizing operations and boosting productivity. Digital platforms will be created to provide market information and facilitate direct sales, with increased investment in research and development.
Dr. Debatanu Barman, founder of Dr Aqua Solutions Private Limited has endorsed the initiative, describing it as a "great initiative" with the potential to significantly improve the fisheries sector's growth and livelihoods.
New training programs will be launched to encourage entrepreneurship in aquaculture, supported by mentorship and financial aid. The budget also proposes tailored insurance schemes for aquaculture farmers and a dedicated disaster relief fund.
Export facilitation centers will be created to connect farmers with domestic and international markets. Incentives will be introduced to promote sustainable practices, with additional funding directed towards waste management projects.
Significant investments are planned for enhancing cold chain infrastructure and logistical capabilities to improve market connectivity and minimize post-harvest losses.
These measures aim to ensure sustainable growth, boost profitability, and enhance the resilience of the aquaculture sector.
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