While presenting the Budget 2021, the Finance Minister Nirmala Sitharaman announced substantial investments in the development of modern fishing harbours and fish landing centres.

“To start with five major fishing harbours, Kochi (Kerala), Chennai (Tamil Nadu), Visakhapatnam (Andhra Pradesh), Paradeep (Odisha), and Petuaghat (West Bengal) will be developed as hubs for economic activity,” Sitharaman said.

She also announced launching of a Deep Sea Mission with an allocation of Rs 4,000 crore for five years.  

As part of the Budget 2021 speech, Nirmala said that a multipurpose seaweed park will be established in Tamil Nadu soon to promote seaweed farming and cultivation. This will help generate jobs for coastal communities.

“Seaweed farming is an emerging sector with a potential to transform the lives of coastal communities. It will provide large scale employment and additional incomes,” said Sitharaman.