Empowering India’s Fisheries Sector: Pradhan Mantri Matsya Sampada Yojana

Team WorkmoreFebruary 13, 2024

2 minutes read

The Ministry of Fisheries, Animal Husbandry, and Dairying has introduced the Pradhan Mantri Matsya Sampada Yojana (PMMSY) to foster the sustainable development of India’s fisheries sector. With an investment of ₹20,050 crore, PMMSY aims to revolutionize the fisheries industry, promoting ecological health, economic viability, and social inclusivity.

Implemented nationwide for five years from FY 2020-21 to FY 2024-25, PMMSY focuses on modernizing and strengthening the fisheries value chain, enhancing productivity, and improving post-harvest management. Recently, a new sub-scheme under PMMSY has been announced, with an investment of Rs.6,000 crore, targeting the enhancement of fish vendors, fishermen, and micro-enterprises to boost market expansion and efficiency.

Objectives of PMMSY include:

Sustainable and inclusive harnessing of fisheries potential.
Enhancement of fish production and productivity.
Modernization of the value chain and post-harvest management.
Doubling incomes and generating employment for fishers and fish farmers.
Increasing the contribution to Agricultural GVA and exports.
Ensuring the security of fishers and fish farmers.
Establishing a robust fisheries management and regulatory framework.

Targets set by PMMSY:

Increasing fish production to 22 million metric tons by 2024-25.
Enhancing aquaculture productivity to 5 tons per hectare.
Augmenting domestic fish consumption to 12 kg per capita.
Elevating the contribution to Agriculture GVA to about 9%.
Doubling export earnings to ₹1,00,000 crores.
Generating 55 lakh direct and indirect employment opportunities.
Doubling the incomes of fishers and fish farmers.

PMMSY offers various benefits and financial assistance, including:

Development of fishing infrastructure such as harbors, landing centers, and processing units.
Support for fish farmers in pond construction, hatcheries, and equipment installation.
Assistance for fisheries management and adoption of scientific methods.
Credit-linked subsidies to encourage fish farming.
Aid for marketing, export, and cold chain development.

Eligible beneficiaries encompass a wide spectrum, from fishers and farmers to cooperatives, entrepreneurs, and governmental entities. The application process involves submission of proposals and detailed project reports either to district fisheries officers or directly to the Department of Fisheries, Government of India, depending on the scheme component.

Applicants are required to furnish various documents including Aadhaar card, PAN card, bank account details, business registration certificate, project report, and land documents.

In conclusion, PMMSY stands as a pivotal initiative, aiming to transform India’s fisheries sector into a sustainable, economically vibrant, and socially inclusive domain, thereby propelling the nation towards greater prosperity and self-sufficiency in this vital industry.

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