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09/02/24 10:28 AM IST

Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana

In News
  • The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the "Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)", a Central Sector Sub-scheme under the Pradhan Mantri Matsya Sampada.
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 creation of work based digital identifies of fish workers for improved service delivery.
  • Facilitating access to institutional financing fisheries sector micro and small enterprises.
  • Providing one-time incentive to beneficiaries for purchasing aquaculture insurance.
  • lncentivizing fisheries and aquaculture microenterprises through performance grants for improving fisheries sector value-chain efficiencies including creation and maintenance of jobs.
  • Incentivising micro and small enterprises through performance grants for adoption and expansion of fish and fishery product safety and quality assurance systems including creation and maintenance of jobs.
Major impact
  • To create a National Fisheries Digital Platform to provide 40 lakh small and micro-enterprises work based identities.
  • Gradual formalization of fisheries sector and enhanced access to institutional credit. The initiative will support 6.4 lakh micro-enterprises and 5,500 fisheries cooperatives, providing access to institutional credit
  • Gradual shift from conventional subsidies to performance based incentives in fisheries
  • The program focuses on improving value chain efficiency and ensuring safe, quality fish by supporting 55,000 targeted micro and small enterprises,
  • Promotion of Environment and Sustainability Initiatives
  • Facilitating Ease of Doing Business and Transparency
Expenditure involved
  • The Sub-scheme will be implemented as a Central Sector Sub-scheme under the Central Sector Component of the PMMSY at an estimated outlay of Rs.6,000 crore consisting of 50% i.e. Rs.3,000 crore public finance including the World Bank and the AFD external financing, and rest 50% i.e.Rs.3,000 crore being the anticipated investment from the beneficiaries/private sector leverage. It will be implemented for 4 (four) years from FY 2023-24 to FY 2026-27 across all the States and UTs.
Source- PIB

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