The Pradhan Mantri Matsya Sampada Yojana (PMMSY) is a flagship scheme introduced by the Government of India for developing the fisheries sector. The objective is to achieve a “Blue Revolution” by sustainably and responsibly developing the fisheries sector in India. The scheme was introduced in the Union Budget 2019-20 and launched in September 2020. It is being carried out in a five-year period, from FY 2020-21 to FY 2024-25. The total expenditure of PMMSY is ₹20,050 crore.
Objectives of PMMSY:
- To exploit the potential of the fisheries sector in a sustainable, responsible, inclusive, and equitable manner.
- To increase fish production/productivity through expansion, intensification, diversification, and productive use of land and water.
- To modernize and strengthen the value chain including post-harvest management and quality improvement.
- To double the income of fishers and fish farmers and create productive employment.
- To improve the contribution of the fisheries sector to Agricultural Gross Value Added (GVA) and exports.
- To provide social, physical, and economic security for fishers and fish farmers.
- To create a robust fisheries management and regulatory framework.
Main Features and Implications:
- Financial Support: The programme offers financial support for a range of activities and schemes including:
o Development of fishery infrastructure such as fishing harbours, fish landing centres, fish market places, fish feed plants, fish seed farms and fish processing units
o Construction of ponds, cages, hatcheries, and nurseries for fish farmers
o Installation of aeration systems and assistance to have other necessary equipment
o Adoption of scientific methods for management of fisheries resources and develop fishery management plans
o Development of cold chains, fish processing units, and packaging facilities for exports of fish products. - Credit-Linked Subsidy: Encourages fish farming as a business by providing financial support. Covers loans of up to ₹2 crores under the Credit Guarantee Fund Trust for Micro & Small Enterprises (CGTMSE) scheme.
- Interest Subvention: Provides an interest subvention of up to 3 percent per annum on term loans for up to a period of 12 years, which includes a 2 year moratorium on the principal amount.
- Need-Based Funding: Financial support is provided depending on the project or calendar requirements of the borrower.
- Low Processing Charges: Low Borrowing cost for loan processing.
- Subsidy Provisions: Central and state/UT subsidy provisions: total combined central and state or UT subsidies will not exceed 40% of the project cost for general category beneficiaries and 60% for SC/ST/women beneficiaries.
- Infrastructure Development: Emphasises on developing infrastructure at all stages of the value chain, from fish production to post-harvest management and marketing.
- Technology Adoption: Strives to modernise the sector through promoting the adoption of aquacultural, processing, and marketing technologies in fish farming.
- Fishermen Welfare: Provides support for the socio-economic welfare of fishers through safety kits, insurance for fishing vessels and fishermen, and livelihood support during fishing bans.
- Employment Generation: The scheme aims to generate about 1.5 million direct and three times as many indirect employment opportunities in the fisheries sector.
- Increased Production and Productivity: Targets increasing fish production to 22 million metric tons by 2024-25 and enhancing aquaculture productivity to 5 tons per hectare.
- Export Enhancement: Aims to double the export earnings from fisheries.
Eligibility Criteria:
The intended beneficiaries under the PMMSY include:
- Fishers
- Fish farmers
- Fish workers and fish vendors
- Fisheries Development Corporations
- Self Help Groups (SHGs) / Joint Liability Groups (JLGs) in the fisheries sector
- Fisheries cooperatives
- Fisheries federations
- Entrepreneurs and private firms (including sole proprietorships, partnerships, LLP companies, and cooperative societies)
- Fish Farmer Producer Organizations/Companies (FFPOs/Cs)
- SCs/STs/Women/Differently-abled persons involved in fisheries activities
