The Budget announcement to auction blocks of the deep sea for mineral mining will affect the lives and livelihood of lakhs of fishermen in Kerala and the country, said Ernakulam MP Hibi Eden in the Lok Sabha. Only corporates will profit from this venture, he added.

Participating in Budget discussion on Thursday, Eden said that mining for deep-sea minerals can devastate and disturb fish stocks. “The survival of marine plants and various species of marine animals will be affected,” he added.

Finance minister Nirmala Sitharaman had announced a critical mineral mission for domestic production, recycling of critical minerals and overseas acquisition of critical mineral assets. She said that Union govt would launch the auction of the first tranche of offshore blocks for mining, building on the exploration already carried out.