
Finance Minister Nirmala Sitharaman began her eighth consecutive budget presentation on February 1, 2025, emphasizing the government’s sustained efforts to accelerate growth, secure inclusive development, and boost household sentiment. The budget speech, presented in Parliament at 11 a.m., aims to uplift India’s economic prospects while remaining fiscally disciplined.
This year’s budget comes at a time when India’s economy is projected to grow between 6.3% and 6.8% in 2025-26, according to the Economic Survey for 2024-25. The survey, tabled in Parliament on January 31, reflects optimism regarding India’s post-pandemic recovery but emphasizes the need for sustained reforms to achieve long-term economic stability.
As part of the government’s emphasis on boosting the blue economy, Sitharaman announced an enabling framework for the sustainable harnessing of fisheries from India’s exclusive economic zones (EEZ). India, being the second-largest producer of fish globally, has a key role to play in the global seafood trade.
Key highlights of the announcement:
- The new framework will focus on promoting sustainable and responsible fishing practices to protect marine biodiversity while supporting economic growth.
- The initiative will ensure that fisheries and aquaculture practices align with international standards and environmental sustainability goals.
- With India’s seafood exports valued at ₹60,000 crore, the government aims to further increase this figure by enhancing marine production, export quality, and market access.
The framework will help promote modern fishing technologies, increase access to international markets, and support infrastructure development such as cold chains and processing centers. The government’s goal is to balance environmental preservation with economic expansion, ensuring that India’s marine resources are used efficiently and sustainably.