PRADHAN MANTRI MATSYA KISAN SAMRIDHI SAH-YOJANA

About the Scheme 

• Central Sector Sub-scheme: The scheme is under the Central Sector Component of the Pradhan Mantri Matsya Sampada (PMMS). 
• Objectives:
  • Gradual formalization of the unorganised fisheries sector. 
  • Facilitating institutional finance to fisheries sector micro and small enterprises. 
  • Providing a one-time incentive to beneficiaries for purchasing aquaculture insurance. 
  • Incentivizing for improving fisheries sector value-chain efficiencies. 
  • Incentivizing for adoption and expansion of fish and fishery product safety and quality assurance systems. 
• Funding: Total outlay of 6000 crore rupees, of which-
  • 50% will come from public finance including the World Bank and the AFD (French Development Agency) external financing and, 
  • 50 % will be contributed by the beneficiaries from the private sector. 
• Duration: The scheme will be implemented for 4 years from FY 2023-24 to FY 2026-27 across all the States and UTs.

Pradhan Mantri Matsya Sampada Yojana (2020) 

• It aims to bring Blue Revolution through sustainable, responsible and holistic development of fisheries sector including welfare of fish farmers. 
• The PMMSY is an umbrella scheme with two separate components:
  • Central Sector Scheme: The entire project/unit cost will be borne by the Central government (i.e. 100% central funding). 
  • Centrally Sponsored Scheme: The entire project/unit cost will be shared between Centre and State. 
• It is being implemented in all the States and Union Territories for a period of 5 years from FY 2020-21 to FY 2024-25 with investment of Rs. 20,050 crore. 
• Targets of PMMSY:
  • Increasing fish production to 22 million metric tons by 2024-25 from 13.75 million metric tons in 2018-19. 
  • Increasing contribution of fisheries sector to the Agriculture GVA to about 9% by 2024-25 from 7.28% in 2018-19. 
  • Doubling export earnings to Rs.1,00,000 crores by 2024-25 from Rs.46,589 crores in 2018-19. 

Intended beneficiaries

• Fishers, Fish (Aquaculture) Farmers, Fish workers, Fish Vendors or such other person directly engaged in fisheries value chain
• Micro and Small enterprises, Cooperatives, Federations, Village Level Organizations like Self Help Groups (SHGs) etc
• Fish Farmers Producer Organizations (FFPOs) and Startups engaged in fisheries and aquaculture value chains. FFPOs also include Farmers Producer Organizations (FPOs)
• Any other beneficiaries that may be included by the Department of Fisheries as targeted beneficiaries

Key facts about India’s seafood and aquaculture industry:

• In the fiscal year 2021-22, India exported US$ 7759.58 million worth of seafood products.
• India is the 4th largest exporter of fish and fisheries products globally.
• India ranks as the 3rd largest country in fish production worldwide.
• India holds the position of 2nd largest aquaculture producer in the world.