The government has announced a major push for India’s fisheries sector, with the Union Budget 2026-27 providing the highest-ever annual budgetary support for the sector.

A total allocation of ₹2,761.80 crore has been proposed for fisheries, including ₹2,500 crore under the Pradhan Mantri Matsya Sampada Yojana (PMMSY). The government says the focus is on improving production, infrastructure, insurance coverage, access to credit and livelihoods for fishers and fish farmers.

Why is the fisheries sector getting more attention?

Fisheries has become an important part of India’s rural economy and food supply chain. According to government data, fish production increased from 141.64 lakh tonnes in 2019-20 to 197.75 lakh tonnes in 2024-25.

The sector also supports the livelihoods of nearly three crore people, particularly fishing communities and households dependent on allied activities.

What is PM Matsya Sampada Yojana?

The Pradhan Mantri Matsya Sampada Yojana is the government's flagship programme for the fisheries sector.

The scheme aims to increase fish production and productivity while strengthening infrastructure, improving post-harvest management and supporting fishers and fish farmers.

It also covers areas such as aquaculture, fisheries infrastructure, cold-chain facilities, marketing and livelihood support.

Credit support through Kisan Credit Cards

Access to affordable credit is another important part of the government's fisheries strategy.

According to the government, Kisan Credit Card benefits have reached 4.39 lakh fishers and fish farmers. The facility is intended to provide working capital and credit support for eligible activities in the fisheries sector.

For small fish farmers and fishing households, access to institutional credit can help reduce dependence on informal borrowing for operational expenses.

Insurance coverage expanded

Fisheries is an occupation exposed to several risks, including accidents and difficult working conditions.

The government's fisheries programmes also include insurance-related support. According to official data, insurance coverage has been extended to around 33 lakh beneficiaries.

Such coverage is intended to provide financial protection to eligible beneficiaries against specified risks under the applicable scheme provisions.

Livelihood support for fisher families

Government programmes are also being used to support the broader livelihood ecosystem surrounding fisheries.

According to the Ministry of Fisheries, livelihood support has benefited around 7.44 lakh fisher families.

This support is important because fisheries-related livelihoods extend beyond catching fish. Processing, transportation, marketing, aquaculture and other allied activities also provide employment and income.

India’s fish exports are growing

The fisheries sector has also emerged as an important contributor to India's exports.

Government data shows that fisheries exports increased from ₹46,663 crore in 2019-20 to ₹73,890 crore in 2025-26.

The government is seeking to strengthen this export potential by improving production, processing infrastructure, quality standards and supply-chain facilities.

What does this mean for fish farmers?

For fish farmers and other eligible beneficiaries, the increased government focus could translate into greater access to financial assistance, infrastructure and institutional credit under applicable schemes.

However, the exact benefit available to an individual depends on the activity being undertaken, eligibility criteria and the relevant scheme component.

Farmers and fishers should therefore check the specific guidelines applicable to their state and type of fisheries activity before applying for assistance.

A growing part of India’s rural economy

The latest budgetary support highlights the increasing importance of fisheries in India's agricultural and rural economy.

With rising domestic production, expanding exports and millions of livelihoods dependent on the sector, government programmes such as PMMSY are being used to improve the entire fisheries value chain — from production and credit to insurance, infrastructure and marketing.

For fishers and fish farmers, the key development is not simply the higher budget allocation but the expansion of support across multiple stages of the fisheries business.