Sign In
Learn bits
Schemes & Policies
Mahesh

16/03/22 07:37 AM IST

Weather-Based Index Insurance Scheme

In News 

  • The Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying is implementing a flagship scheme namely Pradhan Mantri Matsya Sampada Yojana (PMMSY) with a highest ever investment of Rs. 20,050 crore for a period of 5 years with effect from 2020-21 to 2024- 25 in all the States/Union Territories.
About PMMSY
  • PMMSY  inter-alia provides livelihood and nutritional support for socio-economically backward active traditional fisher’s families during the fishing ban/lean period under which Governmental financial assistance of Rs. 3000/- per annum is provided to each enrolled beneficiary along with beneficiary contribution of Rs. 1500/- annually.
  • Further, such accumulated amount of Rs. 4500/- is disbursed to each enrolled beneficiary by the respective State/UT at the rate of Rs. 1500/- per month during the fishing ban/lean period for three months annually.
  • PMMSY also provides support for insurance to fishers and insurance premium subvention for fishing vessels under its Centrally Sponsored scheme component. 

Insurance coverage for fishers includes
  • Rs.5,00,000/- against accidental death or permanent total disability,
  • Rs.2,50,000/- for permanent partial disability
  • insurance coverage for hospitalization expenses in the event of accident for a sum of Rs. 25,000/-
Source- PIB 

More Related Current Affairs View All

08 Sep

Rajasthan’s coaching centre Bill

'The Rajasthan Coaching Centres (Control and Regulation) Bill, 2025, is a significant piece of legislation passed by the Rajasthan Assembly to regulate and oversee the state's burg

Read More

28 Aug

IADT-1

'Recently, the Indian Space Research Organisation (ISRO) successfully carried out its first Integrated Air Drop Test (IADT-1), a crucial milestone in the preparation for the countr

Read More

28 Aug

H-1B visa changes

'H-1B visa changes 2025: United States Commerce Secretary Howard Lutnick called the popular H-1B visa program a “scam”, saying that American businesses should be focuse

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps