PM Matsya Sampada Yojana (PMMSY)

On 05.07.2019 Government proposed a Pradhan Mantri Matsya Sampada Yojana (PMMSY) to establish a robust fisheries management framework and check gaps in the value chain. Central govt. announced Pradhan Mantri Matsya Sampada Yojana (PMMSY) in Budget 2019-20 to promote Blue Revolution (Neeli Kranti), focus would be on development of fish and aqautic products, to address infrastructure gap in fisheries sector.

The government has proposed to increase budget allocation for the Ministry of Agriculture and Farmers Welfare by over 78 % to 39 lakh crore rupees for the current fiscal. out of the total amount, 75,000 crore rupees will be for the Pradhan Mantri Kisan Samman Nidhi.

 

Fresh Allocation of Rs. 20,000 Crore on 15.05.2020

On May 15 2020 Rs. 20,000 crore allocated for fisheries inclusive development of marine and inland fisheries. An estimated Rs. 11,000 crore will be earmarked for marine, inland fisheries and aquaculture, while Rs. 9,000 crore will be allocated for infrastructure related to fishing harbours, cold chains, markets, etc.

Besides PM-KISAN, the government has proposed to increase the allocation for the Pradhan Mantri Fasal Bima Yojana (PMFBY) to 14,000 crore rupees for the current fiscal. To ensure Minimum Support Price (MSP) in times of steep fall in rates, the government has proposed to increase the allocation to 3,000 crore rupees for intervening in the market in such times under the Market Intervention Scheme and Price Support Scheme (MIS-PSS). To harness the potential in the fishery sector, the government proposed a Pradhan Mantri Matsya Sampada Yojana (PMMSY) to establish a robust fisheries management framework and check gaps in the value chain.

The finance minister has announced the launch of a new PM Matsya Sampada Yojana 2019 to promote aquaculture. The govt. has already constituted a separate department for integrated development of fisheries. The central govt. has also created a special fund to develop infrastructure related to fishing industry. This fund would be used for creation of fisheries infrastructure facilities both in marine and inland fisheries sectors. The central govt. has targeted to augment fish production to achieve its target of 15 million tonne by FY 2020 would be done under Blue Revolution.

The govt. would further raise the target to 20 million tonnes by FY 2022-23. FIDF fund would be used to attract private investment in creation and management of infrastructure facilities. Moreover, govt. will also focus on acquisition of the state-of-the-art technologies.

FIDF is going to provide concessional finance to state govt, cooperatives, individuals and entrepreneurs. This finance would be used to take up identified investment activities of fisheries development. Under FIDF, loan lending would be over a period of five years from 2018-19 to 2022-23. The maximum repayment will be over a period of 12 years inclusive of moratorium of 2 years on repayment of principal.

 

 

 

Key Features of PM Matsya Sampada Yojana

Main aim of scheme

To cover up for the massive infrastructure gap in the fishing sector, the above-said scheme has been launched by the initiative of the central government. For this suitable marketing, policy and infrastructure support would be required for the help of the fisheries sector.

 

Target audience of the scheme

The fisheries sector is the target audience of the scheme. Through the scheme benefits, aquaculture would be promoted, and fishermen will get easy sources of funds by means of this scheme.

 

Amount allotment of the scheme

An amount of rupees 7,522 crores will be given by PM Modi led Cabinet committee that would help in improving Fisheries and Aquaculture Infrastructure Development Fund or FIDF.

 

Better funding for the scheme

The central government is also planning to attract private funding sources to get a better contribution to the fishing industry. In addition to this, the government is planning to deploy top-notch technologies that would automatically improve the functioning of the fishing sectors.

However, by this scheme, the fishing industry would be improved, and this would help India to win the first position in fish production.

 

 

Eligibility criteria and documents required in the scheme

Income of fisherman

Though no such income limit has been set for the fisherman to apply for the scheme benefits, the central government might ask for relevant documents of income certificate at the time of online registration under the scheme.

Identity proof

The fisherman has to submit relevant documents of identity proof such as voter ID card or Aadhaar card at the time of online registration for scheme. It would also be required in support of the claim that the person is employed in the fishing sector.

Other than this, the fisherman has to submit documents related to a bank account. This would help to link the bank account with the scheme as the beneficiary amount will be directly credited to the bank account.

Registration Procedure

There is no specific registration procedure that is announced by the government of India to apply for the scheme but as soon as the detailed application procedure is out we will inform you through this website only.