PM Modi Approves Pradhan Mantri Matsya Sampada Yojana

New Delhi : The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval for implementation of the Pradhan Mantri Matsya Sampada Yojana (PMMSY) – A scheme to bring about Blue Revolution through sustainable and responsible development of fisheries sector in India under two components namely, Central Sector Scheme (CS) and Centrally Sponsored Scheme (CSS) at a total estimated investment of Rs. 20,050 crore comprising of (i) Central share of Rs. 9,407 crore, (ii) State share of Rs. 4,880 crore and (iii) Beneficiaries’ share of Rs. 5,763 crore.

The Scheme will be implemented during a period of 5 years from FY 2020-21 to FY 2024-25.

Benefits:

i. Address the critical gaps in the fisheries sector and realize its potential.

ii. Augmenting fish production and productivity at a sustained average annual growth rate of about 9% to achieve a target of 22 million metric tons by 2024-25 through sustainable and responsible fishing practices.

iii. Improving availability of certified quality fish seed and feed, traceability in fish and including effective aquatic health management.

iv. Creation of critical infrastructure including modernisation and strengthening of value chain.

v. Creation of direct gainful employment opportunities to about 15 lakh fishers, fish farmers, fish workers, fish vendors and other rural/urban populations in fishing and allied activities and about thrice this number as indirect employment opportunities including enhancement of their incomes.

vi. Boost to investments in fisheries sector and increase of competitiveness of fish and fisheries products.

vii. Doubling of fishers, fish farmers and fish workers incomes by 2024

viii. Social, physical and economic security for fishers and fish workers.