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3 min readNew DelhiFeb 2, 2026 05:57 AM IST
In a major boost to the fisheries sector, Union Finance Minister Nirmala Sitharaman on Sunday announced a series of initiatives, including the integrated development of 500 reservoirs and Amrit Sarovars. She also announced that fish caught by Indian fishing vessels in the Exclusive Economic Zone (EEZ) or on the high seas will be exempted from duty.
The minister also announced increasing the limit for duty-free imports of specified inputs used for processing seafood products for export, from the current 1 per cent to 3 per cent of the FOB (Free on Board) value of the previous year’s export turnover.
Presenting the Union Budget 2026-27, Sitharaman said, “We will undertake initiatives … for integrated development of 500 reservoirs and Amrit Sarovars,…strengthen the fisheries value chain in coastal areas and enable market linkages involving start-ups and women-led groups together with Fish Farmers Producer Organisations.”
“I propose to increase the limit for duty-free imports of specified inputs used for processing seafood products for export, from the current 1 per cent to 3 per cent of the FOB value of the previous year’s export turnover,” she announced.
“Landing of such fish on foreign port will be treated as export of goods. Safeguards will be put in place to prevent misuse during fish catch, transit and transshipment,” she said.
For this, the government will amend sub-section (2) of Section 1 of the Customs Act, 1962. In the Customs Act, a new section, 56A, will be added for special provisions for fishing and fishing-related activities by an Indian-flagged fishing vessel beyond territorial waters of India. The amendment provides that fish harvested beyond the territorial waters of India may be brought into India free of duty.
Sitharaman also announced a credit-linked subsidy programme for animal husbandry.
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“To provide quality employment opportunities in rural and peri-urban areas, we will support the Animal Husbandry Sector in entrepreneurship development through: (a) a credit-linked subsidy programme (b) scaling-up and modernisation of livestock enterprises (c) enhance creation of livestock, dairy and poultry-focused integrated value chains and (d) encourage creation of livestock farmer producers organisations,” she said.
Commenting on the budget announcements, Fisheries, Animal Husbandry and Dairying Minister Rajiv Ranjan Singh Lalan said that the measures announced by Sitharaman will boost the livestock and fisheries sector.
“To strengthen animal health systems, the Finance Minister has announced steps to scale up availability of veterinary professionals by more than 20,000. For this, she has announced plans to roll out a loan-linked capital subsidy support scheme for establishment of veterinary and para-vet colleges, veterinary hospitals, diagnostic laboratories and breeding facilities in the private sector,” Singh told The Indian Express.
The Finance Minister also announced a plan to facilitate the collaboration between Indian and foreign institutions, he said.
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Singh added that these measures will help formalise animal husbandry activities, which are largely in the unorganised sector.
