Q. Which one of the following best describes the term ‘Blue Economy 2.O’, recently seen in the budget 2024?
Answer:
Sustainable development related to oceans, seas, and coasts
Notes: The Interim Budget prioritizes the advancement of 'Blue Economy 2.0,' concentrating on sustainable development concerning oceans, seas, and coasts. Key initiatives include schemes for coastal restoration, aquaculture, and mariculture, with an integrated approach. Plans encompass setting up five integrated aquaparks and enhancing the Pradhan Mantri Matsya Sampada Yojana for increased productivity, exports, and job creation. The Blue Economy is defined by the World Bank as the sustainable use of ocean resources for economic growth and improved livelihoods, preserving ocean ecosystem health.