New Delhi: Finance Minister Nirmala Sitharaman on Friday announced a 'Pradhan Mantri Matsya Sampada Yojana to modernize the fishery sector.

Presenting the Budget for 2019-20 in the Lok Sabha, Sitharaman said fishing and fishermen were closely aligned with farming and were crucial to rural India.

"Through the focussed Pradhan Mantri Matsya Sampada Yojana, the Department of Fishery Management will establish robust fishery management framework," she said.

"This will address critical gaps in value chain including infrastructure modernization, traceability, production, productivity, post-harvest and quality control."