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


Recently, the Union Cabinet approved the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY).


GS-02 (Government policies and interventions)

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

  • It is a Central Sector Sub-scheme under the Pradhan Mantri Matsya Sampada Yojana.
  • The main aim is for the formalization of the fisheries sector and supporting fisheries micro and small enterprises.
  • It aims to improve the socio-economic welfare of fishers and fish farmers by:
    • Providing safety kits, replacement boats and nets
    • Insurance for fishing vessels and fishermen
    • Providing livelihood and nutritional support to fishermen families during fishing bans and lean periods

Intended Beneficiaries :

  • Fishers, Fish (Aquaculture) Farmers, Fish workers, Fish Vendors or such other persons directly engaged in the fisheries value chain.
  • Micro and Small enterprises in the form of Proprietary Firms, Partnership Firms and Companies registered in India, Societies, Limited Liability Partnerships (LLPs), Cooperatives, Federations, Village Level Organizations like Self Help Groups (SHGs), Fish Farmers Producer Organizations (FFPOs) and Startups engaged in fisheries and aquaculture value chains.
    • FFPOs also include Farmers Producer Organizations (FPOs).

Objectives of the scheme :

  • Gradual formalization of the unorganized fisheries sector through self-registration of fishers, fish farmers and supportive workers under a National Fisheries Sector Digital Platform including the creation of work-based digital identities of fish workers for improved service delivery.
  • Facilitating access to institutional financing to fisheries sector micro and small enterprises.
  • Providing a one-time incentive to beneficiaries for purchasing aquaculture insurance.
  • Incentivizing fisheries and aquaculture microenterprises through performance grants for improving fisheries sector value-chain efficiencies including the creation and maintenance of jobs.
  • Incentivising micro and small enterprises through performance grants for the adoption and expansion of fish and fishery product safety and quality assurance systems including the creation and maintenance of jobs.
  • The initiative will support 6.4 lakh micro-enterprises and 5,500 fisheries cooperatives, providing access to institutional credit.
  • It is projected to create 1.7 lakh new jobs, with a special emphasis on employing 75,000 women and also aims to generate 5.4 lakh continued employment opportunities in the micro and small enterprises value chain.

Facts for Prelims:

  • India ranks as the third largest fish producer globally. Its contribution is around 8% to total global fish production showcasing the significant role of the fisheries sector in the country’s economy.
  • Fisheries Infrastructure Development Fund (FIDF): It is established by the Department of Fisheries (Ministry of Fisheries, Animal Husbandry & Dairying). It envisages the creation of fisheries infrastructure facilities both in marine and inland fisheries sectors.