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PM Modi-Chaired Union Cabinet Approves Pradhan Mantri Matsya Sampada Yojana

PM Modi-Chaired Union Cabinet Approves Pradhan Mantri Matsya Sampada Yojana

PM Narendra Modi chaired a meeting on Wednesday in which the Union Cabinet approved the Pradhan Mantri Matsya Sampada Yojana implementation. The PMMSY scheme aims to begin the Blue Revolution through sustainable & responsible development of the fisheries sector in India.

It has an estimated investment of Rs. 20,050 crore. Out of the total estimate, the Central’s share is Rs. 9,407 crore, the State’s share is Rs. 4,880 crore & Beneficiaries’ share is Rs. 5,763 crore. It would be implemented in five years from FY 2020-21 to FY 2024-25.

The scheme would be implemented under two components: the Central Sector Scheme (CS) and the Centrally Sponsored Scheme (CSS). further, CSS Component is segregated into Non-beneficiary oriented and Beneficiary orientated sub¬components/activities under these three broad heads:

1) Enhancement of Production and Productivity
2) Infrastructure and Post-Harvest Management
3) Fisheries Management and Regulatory Framework

Also, here are the potential benefits of the PMMSY scheme:

1. It would bridge the gaps in the fisheries sector and help realize its potential.
2. It would increase fish production and productivity at a sustained average annual growth rate of around 9% towards achieving a goal of 22 million metric tons by 2024-25 by sustainable and responsible fishing practices.
3. It would improve the availability of certified quality fish seed and feed, traceability in fish, and effective aquatic health management.
4. It would help create critical infrastructure, including modernization and strengthening of the value chain.
5. It would help create lucrative employment opportunities for nearly 15 lakh fishers, fish farmers, fish workers, fish vendors & other rural/urban populations in fishing and related activities and nearly thrice this number as indirect employment opportunities.
6. It would advance investments in the fisheries sector and increase the competitiveness of fish and fisheries products.
7. It would help double the incomes of fishers, fish farmers, and fish workers by 2024.
8. It would improve social, physical, and economic security for fishers and fish workers.

The Prime Minister tweeted on his official handle about the same-

“Pradhan Mantri Matsya Sampada Yojana will revolutionise the fisheries sector. It will invigorate it with latest technology, infrastructure and ensure financial assistance. Our hardworking fishermen will gain immensely.”

He further wrote in his tweet-

“During today’s Cabinet meeting, important decisions were taken which are focused on welfare of migrants, poor, senior citizens, easier availability of credit, harnessing opportunities in the fisheries sector. They will benefit several citizens.”

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