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Source-This post on Pradhan Mantri Matsya Kisan Samridhi Sah Yojna has been created based on the article “Cabinet approves Rs 6,000-crore fishery scheme” published in “The Indian Express” on 9 February 2024.
Why in the news?
The Central government has recently approved the “Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY).
About Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)
| Aspect | Details |
| About | The PM-MKSSY is a central sector sub-scheme under the Pradhan Mantri Matsya Sampada for formalisation of the fisheries sector. |
| Objective | 1) Gradual formalisation of the unorganized fisheries sector through self registration of fishers, fish farmers 2) Facilitating access to institutional financing, fisheries sector micro and small enterprises. 3) Providing one-time incentive to beneficiaries for purchasing aquaculture insurance. |
| Duration | Period of next four 4 years from FY 2023-24 to FY 2026-27 in all States/Union Territories. |
| Funding | Total outlay- Rs.6,000 crore- 50% i.e. Rs.3,000 crore will be provided by public finance including the World Bank and the AFD external financing, and rest 50% i.e.Rs.3,000 crore will be provided by private sector/benefeciaries. |
| Intended benefeciaries | Fishers, Fish (Aquaculture) Farmers, Fish workers, Fish Vendors or such other person directly engaged in fisheries value chain. Micro and Small enterprises,SHGs, Fish Farmers Producer Organizations (FFPOs) and Startups in fisheries sector. |
| Digital platform | National Fisheries Digital Platform will be created to provide 40 lakh small and micro-enterprises work-based identities. |
| Major components | 1) Formalisation of fisheries sector 2) Facilitating adoption of aquaculture insurance 3) Adoption and expansion of fish and fishery product safety and quality assurance systems 4) Project management, monitoring and reporting. |
| Significance | 1) It will create 1.7 lakh new jobs, with a special emphasis on employing 75,000 women. 2) It will improve value chain efficiency and ensuring safe, quality fish by supporting 55,000 targeted micro and small enterprises. 3) It will ensure environment friendly fisheries sector. 4) It will Facilitate Ease of Doing Business and transparency. |
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