MoSPI Releases Concept Paper on Marine Fish Resource Monetary Accounting
The Ministry of Statistics and Programme Implementation (MoSPI) has published a concept paper titled "Methodological Approach for Compilation of Experimental Monetary Asset Accounts of Marine Fish Resources" on August 27, 2026. This initiative aligns with the System of Environmental-Economic Accounting (SEEA) Central Framework, which is endorsed by the United Nations Statistical Commission as an international statistical standard.
Since 2018, MoSPI has been following the UN SEEA Framework and compiling various environmental accounts through the EnviStats India series covering subjects like land, water, forest, pollination, and minerals. Building on this foundation, the ministry is now exploring methodological approaches for developing experimental monetary asset accounts specifically for marine fish resources.
The concept paper emphasizes the importance of fish resources as a critical component of natural resources, noting the sustained dependence on fisheries for nutritional security and economic activity. It highlights the need for systematic assessment of stock condition, sustainability, long-term productive capacity, and valuation of fish resources within an environmental-economic accounting framework. Economic valuation is presented as a powerful tool for measuring and comparing the various benefits of fisheries resources and their ecosystems, aiding in improved management and wise use.
The paper provides a comprehensive understanding of India's fisheries sector, including its economic contribution and key fisheries statistics. It presents concepts, terminology, classifications, and institutional arrangements followed in the Indian fisheries sector, along with an assessment of available relevant data for compiling natural resource accounts. The methodological approach draws from the OECD (2025) publication "Measuring Natural Resources in the National Accounts: A Compilation Guide" and assesses its practical applicability in the Indian context considering data availability and existing institutional arrangements.
The monetary asset account framework provides the accounting structure for integrating physical stock condition, asset life, depletion, regeneration, and monetary valuation within the SEEA-based environmental-economic accounting system. This integrated assessment recognizes fish resources simultaneously as biological resources and economic assets, improving understanding of changes in marine resource wealth and strengthening the analytical usefulness of fisheries statistics for sustainability assessment, marine resource planning, and evidence-based fisheries management.
The methodological approach is experimental and based primarily on proxy approaches necessitated by existing data limitations within the marine fisheries sector. MoSPI has issued this concept paper as an open invitation for comments and feedback from experts, researchers, government agencies, and international organizations. Responses received will assist in finalizing a standardized methodology for monetary valuation of fish resources within India's national accounts framework, potentially positioning India at the forefront of natural capital accounting among emerging economies. Accurate and transparent monetary valuation of fish resources is expected to serve as a foundational input for data-driven policymaking and sustainable development.
Feedback may be submitted to the Environment Unit, Social Statistics Division, MoSPI at ssd-mospi[at]gov[dot]in. The concept paper is available on the Ministry's website www.mospi.gov.in.