Union Minister of Fisheries, Animal Husbandry, and Dairying, Parshottam Rupala has lauded the rise in fund allocation for the department and said that the budget is truly a People’s Budget.
The overall budget of the D/Fisheries for the financial year 2022-23 has been increased by 73% in comparison to the allocation of Rs. 1220 crore during the year 2021-22. The total Budgetary allocation of the department for the year 2022-23 stands at Rs. 2118.47 crore as against Rs. 1220 crore (BE) during 2021-22.
With the enhanced allocation of Rs. 1879 crore for PMMSY the Department envisages setting up seaweed seed banks and facilitating the marketing of seaweed through suitable demand aggregators and creating necessary infrastructural facilities to ensure efficient marketing of seaweed.
The department will also step up its efforts to modernize the fishing harbors and landing centers to ensure higher value for the catch of the marine fishermen who toil in the sea against all odds to get their catch.
Most importantly, the Department of Fisheries will strive to Promote alternative livelihood for fishermen by engaging them to take up aqua sports and fish tourism. A Centre of Excellence for promoting science-based aquaculture will also be considered.
He said that he has instructed the department to explore the possibilities of the Development of modern fish markets to improve hygiene and to attract new customers. As a pilot, 50 new fish markets will be taken up for modernization this year.
Implementation of welfare activities such as fishermen’s insurance, saving-cum relief, and vessel insurance with enhanced coverage will continue to remain as one of the topmost priorities of the Ministry.
The Union Minister observed that the reduction in alternate minimum tax for cooperatives from 18.5% to 15% is indeed a significant announcement that would provide a level playing field between cooperative societies and companies.
He said that since most of our Dairy fraternity represents the Cooperative sector, therefore the announcement of a reduction in surcharge & alternate minimum tax will positively impact dairy farmers’ incomes across the country. Similarly, the reduction in surcharge on co-operative societies from 12% to 7% for those having a total income of more than 1 crore and up to 10 crores will benefit thousands of dairy cooperatives within the country – translating into higher income for dairy farmers.
The incentivizing digital banking, digital payments & fintech innovations will have a ripple effect in the livestock sector through greater transparency by streamlining payments during milk procurement & other services rendered by livestock farmers.
Supporting start-ups in agriculture and allied sectors through NABARD will boost developmental projects and investment in rural areas, increase productivity and incomes through an infusion of new technology in agriculture, dairy, animal husbandry, and fishery production and marketing systems and facilitate rural prosperity, said Rupala.
