Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana

• 09 Nov 2024

Source: PIB 

Why in News? 

The Department of Fisheries organised a meeting to discuss the recently implemented Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY), a sub-scheme of the Pradhan Mantri Matsya Sampada Yojana (PMMSY).

Note: 

• The Fisheries and Aquaculture sector, referred to as a “Sunrise Sector”, plays a vital role in ensuring food security, creating livelihoods, and boosting India’s economic growth. 
  • Several schemes like Fisheries and Aquaculture Infrastructure Development Fund (FIDF), and Blue Revolution have been launched to support sector development. 
• India is the 3rd largest fish-producing country in the world and the 4th largest exporter of fish and fisheries products with a growth in exports of 26.73% for marine products in FY 2022-23.  
  • In terms of employment, the sector supports the livelihood of over 28 Mn people in the country.

What is Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)? 

• About:  
  • The Government approved the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY), a Central Sector Sub-scheme in February 2024 for a period of four years from FY 2023-24 to FY 2026-27. 
• Objectives:  
  • Gradual formalization of the unorganized fisheries sector by creation of work based digital identities under the National Fisheries Digital Platform (NFDP) for improved service delivery. 
  • Facilitating greater access to institutional finance for fish farmers & micro and small enterprises. 
  • Facilitates access to financial resources, empowering fish farmers with funding and sustainability options. 
  • Promotes insurance adoption for aquaculture, reducing risks while integrating traceability for quality assurance in supply chains. 

 

What is Pradhan Mantri Matsya Sampada Yojana (PMMSY)? 

• About: 
  • The Department of Fisheries is implementing the PMMSY, a scheme aimed at ushering in a Blue Revolution through the sustainable and responsible development of India's fisheries sector.  
    • It focuses on the comprehensive growth of the sector while ensuring the welfare of fishers. 
  • PMMSY is being implemented in all the States and Union Territories for a period of 5 years from FY 2020-21 to FY 2024-25. 
• Objective: 
  • PMMSY addresses gaps in fish production, productivity, quality, and post-harvest infrastructure, modernizing the value chain while ensuring fishers’ socio-economic welfare. 
• Targets of PMMSY: 
  • Fish Production and Productivity: 
    • Increasing fish production to 22 million metric tons by 2024-25 from 13.75 million metric tons in 2018-19. 
    • Enhancing aquaculture productivity to 5 tons per hectare from the current national average of 3 tons. 
    • Augmenting domestic fish consumption from 5 kg to 12 kg per capita. 
  • Economic Value Addition: 
    • Increasing contribution of fisheries sector to the Agriculture Gross Value Added (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. 
    • Facilitating private investment and growth of entrepreneurship in the fisheries sector. 
    • Reduction of post-harvest losses from the reported 20-25% to about 10%. 
• Enhancing Income and Employment Generation: 
  • Generating 55 lakh direct and indirect employment opportunities along the value chain. 
  • Doubling the incomes of fishers and fish farmers.