Finance Minister Nirmala Sitharaman introduced a new MISHTI (Mangrove Initiative for Shoreline Habitats & Tangible Incomes) scheme in the Union Budget 2023-24, presented on Wednesday (February 1).
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Ministry: – Ministry of Environment, Forest and Climate Change (MoEFCC)
Launch Year: – 2023
Objectives: – The aim of the MISTHI (Mangrove Initiative for Shoreline Habitats & Tangible Incomes) Scheme is to protect and revive mangrove ecosystems on the Indian coast while enhancing the socio-economic status of nearby communities.
Beneficiaries: – Mangrove
Funding: – The Government of India covers 80% of the project cost, while the State Governments contribute the remaining 20%.
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