Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana

Introduction to Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)

The Department of Fisheries recently held a meeting to discuss the implementation of the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY).

This scheme is a crucial Central Sector sub-scheme operating under the broader umbrella of the Pradhan Mantri Matsya Sampada Yojana (PMMSY).

Key Objectives of PM-MKSSY

One primary objective is the gradual formalization of the currently unorganized fisheries sector in India.

This formalization will be achieved through the creation of work-based digital identities for beneficiaries under the National Fisheries Digital Platform (NFDP).

The scheme aims to facilitate greater access to institutional finance for individual fish farmers and various micro and small enterprises within the sector.

It also promotes the widespread adoption of insurance for aquaculture activities, which significantly helps in reducing financial risks for farmers.

Furthermore, traceability mechanisms are being integrated into supply chains to ensure better quality assurance for fishery products.

Understanding Pradhan Mantri Matsya Sampada Yojana (PMMSY)

The Pradhan Mantri Matsya Sampada Yojana (PMMSY) is the flagship scheme of the Department of Fisheries, designed to bring about a Blue Revolution in India.

It focuses on the sustainable and responsible development of India's vast fisheries sector, while simultaneously ensuring the holistic welfare of fishers.

Overarching Objectives of PMMSY

PMMSY was launched to address critical gaps across the entire fisheries value chain, including issues in fish production, productivity, and quality.

A major focus is on improving post-harvest infrastructure and reducing significant post-harvest losses, which currently stand at 20-25%.

The scheme also prioritizes the socio-economic welfare of fishers and fish farmers, aiming to double their incomes.

Key Targets of PMMSY

Fish Production and Productivity:

• Increase fish production to 22 million metric tons by 2024-25 (from 13.75 million metric tons in 2018-19).
• Enhance aquaculture productivity to 5 tons per hectare (from a national average of 3 tons).
• Augment domestic fish consumption from 5 kg to 12 kg per capita.

Economic Value Addition:

• Increase the fisheries sector's contribution to Agriculture Gross Value Added (GVA) to about 9% by 2024-25 (from 7.28% in 2018-19).
• Double export earnings to Rs. 1,00,000 crores by 2024-25 (from Rs. 46,589 crores in 2018-19).
• Facilitate greater private investment and foster entrepreneurship in the sector.
• Reduce post-harvest losses from 20-25% to approximately 10%.

Income and Employment Generation:

• Generate 55 lakh direct and indirect employment opportunities across the entire fisheries value chain.
• Aim to double the incomes of both fishers and fish farmers.