THEBUSINESSBYTES BUREAU
NEW DELHI, JULY 22, 2026
Odisha’s blue economy is receiving a significant boost under
the Pradhan Mantri Matsya Sampada Yojana (PMMSY), with the Government of India
approving fisheries development projects worth ₹1,301.18 crore since
2020-21. The initiatives, aimed at strengthening the fisheries and aquaculture
value chain across the State, include a Central assistance of ₹484.64 crore and
are expected to transform infrastructure, improve
livelihoods and enhance sustainable fisheries development, informed Union
Minister for Fisheries, Animal Husbandry and Dairying Rajiv Ranjan Singh in a
written reply in the Rajya Sabha in response to a question.
As part of this ambitious expansion, the Department of
Fisheries under the Ministry of Fisheries, Animal Husbandry and Dairying
approved the establishment of an Integrated Aqua Park at Basantapur in
Sambalpur in January 2025 at an estimated cost of ₹100
crore. According to the Odisha Government, preparatory works, including land
procurement, issuance of the letter of intent to the executing agency, and construction of the approach road and boundary
walls, have already been completed. Construction of key facilities such as the
in-house hatchery, grow-out ponds, processing units, research facilities and
the effluent treatment plant is currently progressing.
The Centre has also sanctioned a state-of-the-art Wholesale
Fish Market at Pandara in Bhubaneswar at a project cost of ₹59.13
crore. The modern market will house 44 wholesale units and 99 retail units and
has been designed with sustainable features such as a renewable energy-based power system and
rainwater harvesting infrastructure to promote resource efficiency and reduce
dependence on conventional energy sources. The Odisha Government has reported
that the land reclamation phase of the project has been completed.
In a major step towards improving access to affordable institutional credit, the Government of India has extended the Kisan Credit Card (KCC) facility to fishers and fish farmers since the financial year 2018-19. The Department of Fisheries, in collaboration with the Department of Financial Services under the Ministry of Finance, is actively working with States, Union Territories and State Level Bankers’ Committees to create awareness and facilitate wider access to KCC benefits among the fishing community.
The Odisha Government has further strengthened the initiative through regular awareness campaigns conducted during Matsya O Pranee Sampad Melas and fishermen meetings at district, block and village levels. To make credit more affordable, the State provides an additional interest subvention of 4 per cent on loans up to ₹1 lakh and 2 per cent on loans above ₹1 lakh and up to ₹3 lakh. As a result, KCC loans up to ₹1 lakh become interest-free, while loans between ₹1 lakh and ₹3 lakh are available at an effective interest rate of just 2 per cent, providing substantial financial relief to fishers and fish farmers.
