Union Cabinet approved the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) under PMMSY | Current Affairs | Vision IAS
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    Union Cabinet approved the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) under PMMSY

    Posted 09 Feb 2024

    Updated 16 Mar 2024

    2 min read

    • PM-MKSSY is a Central Sector Sub-scheme under the Pradhan Mantri Matsya Sampada Yojana (PMMSY). 
      • PMMSY (2020) aims to bring about the Blue Revolution through sustainable and responsible development of fisheries sector in India.
        • The other component of scheme is Centrally sponsored scheme. 
    • PM-MKSSY aims to formalize the fisheries sector and to support fisheries micro and small enterprises.

     

    • Key Features of PM-MKSSY
      • Period- FY 2023-24 to FY 2026-27 in all States/Union Territories.
      • Funding-Total outlay of Rs. 6,000 crore.
        • 50% by public finance including the World Bank and the Agence Française de Développement (AFD) of France. 
        • 50% will be invested from the beneficiaries/private sector leverage.
      • Intended Beneficiaries- 
        • Fishers, Fish (Aquaculture) Farmers, Fish workers, Fish Vendors,
        • Limited Liability Partnerships (LLPs), Cooperatives, Federations, 
        • Village Level Organizations like Self Help Groups (SHGs), Fish Farmers Producer Organizations (FFPOs). 
      • Components (Implementation Strategy):
        • Formalization of fisheries sector and facilitating access to fisheries microenterprises.
          • For this purpose, a National Fisheries Digital Platform (NFDP) will be created. 
        • Facilitating adoption of aquaculture insurance
        • Supporting microenterprises to improve fisheries sector value chain efficiencies. 
        • Adoption and expansion of fish and fishery product safety and quality assurance systems.
        • Project management, monitoring and reporting (proposed to set up Project Management Units (PMUs))

     

    Related Development 

    • Fisheries and Aquaculture Infrastructure Development Fund (FIDF)
      • Union cabinet has extended FIDF (launched in2018-19) from for another 3 years upto 2025-26. 
      • It aims to create and modernize fisheries infrastructure. 
      • National Fisheries Development Board, Hyderabad is a nodal implementing agency.
      • National Bank for Agriculture and Rural Development (NABARD), National Cooperatives Development Corporation (NCDC), all scheduled Banks are nodal lending institution. 
    • Tags :
    • Matsya Kisan Samridhi Sah-Yojana
    • NABARD
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