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