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Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana

Context:

The Governemnt has recently approved the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana, a sub scheme of Pradhan Mantri Matsya Sampada.

  • The Cabinet has also approved the extension of the Fisheries Infrastructure Development Fund (FIDF) for another 3 years up to 2025-26.
    • To address the infrastructure requirement for the fisheries sector, the Government during 2018-19 created the Fisheries and Aquaculture Infrastructure Development Fund (FIDF).

Relevance:

GS II- Government Policies and Interventions

Dimensions of the Article:

  1. About Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana
  2. About Pradhan Mantri Matsya Sampada Yojana

About Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana:

  • The Union Cabinet has approved Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana, a Central Sector sub-scheme under the Pradhan Mantri Matsya Sampada for the fisheries sector.
  • The scheme will be implemented for 4  years from FY 2023-24 to FY 2026-27 across all the States and UTs.
  • Aim:
    • The scheme will help to formalize the fisheries sector and enhance access to institutional credit.
  • Fund Allocated:
    • A total of 6000 crore rupees have been earmarked for the scheme over the next 4 years.
  • Finance:
    • About 3,000 crore rupees will come from public finance including the World Bank and the AFD external financing, and the remaining 50 percent will be contributed by the beneficiaries from the private sector.
  • Significance:
    • The initiative will support 6.4 lakh micro-enterprises and 5,500 fisheries cooperatives, providing access to institutional credit.     
    • This sub-scheme will help to create a National Fisheries Digital Platform to provide 40 lakh small and micro-enterprises work-based identities.        

About Pradhan Mantri Matsya Sampada Yojana

  • Pradhan Mantri Matsya Sampada Yojana (PMMSY) was launched in 2020 to bring about Blue Revolution through the sustainable development of the fisheries sector over a period of five years (2020-2025).
  • It is an umbrella scheme to develop the fisheries sector with a total outlay of Rs. 20050 crores.

It has two components

  • The Central Sector Scheme (CS) component with a non-beneficiary-oriented scheme and a Beneficiary oriented scheme (Central Assistance for General Category – 40%; SC/ST/Women – 60%).
  • Central Sponsored Scheme (CSS) component also with a non-beneficiary-oriented scheme and Beneficiary oriented scheme. The different break-ups of funding are: Central Assistance for Northeastern States – 90%, Other States – 60%; and UTs – 100%.

The areas expected to be covered by the PMMSY are:

  • Fish production
  • Fisheries productivity
  • Quality of fisheries and aquaculture sectors
  • Post-harvest infrastructure and management
  • Modernization of value chain
  • Welfare of the fishers and fish farmers
  • Fisheries management framework

Insurance coverage:

The insurance coverage provided under the PMMSY includes

  • Rs.5,00,000/- against accidental death or permanent total disability,
  • Rs.2,50,000/- for permanent partial disability
  • Hospitalization expenses in the event of accident for a sum of Rs. 25,000/-.

The objectives of the PMMSY are:

  • Develop fisheries and aquaculture sectors.
  • Harness the potential of fisheries sector in a sustainable, responsible, inclusive and equitable manner
  • Efficient use of land and water resources to enhance fish production and productivity.
  • Modernize value chain considering post-harvest management and quality improvement.
  • Double fishers and fish farmers’ incomes
  • Generate employment in the fisheries sector.
  • Enhance fisheries sector’s contribution to overall agricultural Gross Value Added (GVA) and exports.
  • Provide social, economic and physical security to fish farmers and fishermen.
  • Develop a robust fisheries management and regulatory framework.

-Source:  All India Radio, PIB


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