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Why in news?
The “blue economy 2.0” emphasized in the Interim Budget focuses on sustainable development around seas.
Key Points:
- The budget recommends supporting climate-resilient initiatives for the blue economy 2.0 in order to address adaptation and restoration needs.
- It assures to improve the Pradhan Mantri Matsya Sampada Yojana (PMMSY).
- To establish five integrated aqua parks in an effort to double exports, boost aquaculture production, and create jobs.
About Blue Economy:
- It is the sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of the ocean ecosystem.
- India’s Blue Economy 2.0 focuses areas: coastal restoration, aquaculture development, and climate-resilient activities within the broader framework of sustainable ocean management.
Blue Economy 1.0 vs 2.0:
Key Aspect | Blue Economy 1.0 | Blue Economy 2.0 |
|---|---|---|
Focus | Exploitation of resources | Sustainable use |
Major activities | Traditional industries | Innovative industries |
Emphasis | Economic growth | Achieving balance of economic growth, environment sustenance and societal aspirations. |
