The fisheries sector is set for a major push towards modernisation, financial inclusion and sustainable growth under the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY). Implemented under the broader Pradhan Mantri Matsya Sampada Yojana (PMMSY), the scheme is being implemented for four financial years from 2023-24 to 2026-27 with an estimated outlay of around ₹6,000 crore.
The scheme focuses on bringing fishers, fish farmers, fisheries cooperatives and micro and small enterprises into a more organized ecosystem while improving access to finance, insurance, technology, markets and employment opportunities.
A key component of PM-MKSSY is the National Fisheries Digital Platform (NFDP), which was launched on September 11, 2024.
The platform is designed to gradually formalise the largely unorganised fisheries sector by creating work-based digital identities for fish workers and other stakeholders. It is also expected to improve access to government services, strengthen sectoral databases and make delivery of welfare and development programmes more efficient.
PM-MKSSY also aims to improve access to institutional finance and working capital for fishers, fish farmers and micro and small fisheries enterprises. The initiative seeks to reduce the cost of capital and help small businesses expand their operations. It also supports fisheries cooperatives by strengthening their institutional capacity, improving market access and facilitating finance and business development plans.
One of the major attractions of PM-MKSSY is the provision of a one-time incentive for purchasing aquaculture insurance. For beneficiaries in the general category, the incentive is available at 40% of the insurance premium paid, subject to a maximum of ₹25,000 per hectare or ₹1 lakh per farmer for up to four hectares of water spread area. The incentive also covers intensive aquaculture systems such as farms, cage culture, Recirculatory Aquaculture Systems (RAS), biofloc and raceways. For such systems, the benefit is capped at ₹1 lakh per farmer or for 1,800 cubic metres, as applicable. In addition, SC, ST and women beneficiaries are eligible for an additional 10% incentive over the support available to the general category.
Focus on Climate-Smart and Environment-Friendly Fish Farming:
The scheme places considerable emphasis on making fisheries and aquaculture more environmentally sustainable and climate-resilient.
Projects adopting renewable energy, improving energy and water-use efficiency, using climate-smart technologies and reducing greenhouse gas emissions are encouraged under the scheme. Better sanitation, waste management and pollution control are also among the focus areas. The scheme further promotes disease management, food safety, quality standards, certification and traceability. These measures are aimed at improving production practices while strengthening the overall quality and sustainability of fish and fishery products.
Fisheries Micro Enterprises Can Get Up to ₹35 Lakh Performance Grant:
PM-MKSSY provides Performance Grants to fisheries microenterprises to improve value-chain efficiency and establish reliable supply chains for safe fish and fishery products. For general-category microenterprises, the grant is limited to 25% of the total investment or ₹35 lakh, whichever is lower. For SC, ST and women-owned microenterprises, support can go up to 35% of the total investment or ₹45 lakh, whichever is lower. The assistance is intended to encourage businesses to adopt better technologies, strengthen processing and packaging, improve market connections and create more efficient fisheries value chains.
SHGs, FFPOs and Cooperatives Also Eligible for Support:
The scheme also extends Performance Grant support to village-level organisations, federations of Self-Help Groups (SHGs), Fish Farmers Producer Organisations (FFPOs) and cooperatives. For these organisations, the grant can be up to 35% of the total investment or ₹2 crore, whichever is lower.
The scheme also provides an employment-related incentive within the eligible Performance Grant limit. Support of up to ₹10,000 per year for jobs created and maintained for men and ₹15,000 per year for women is provided, subject to the prescribed limit of 50% of the total eligible Performance Grant.
Scheme Targets 1.70 Lakh New Jobs:
PM-MKSSY is a demand-driven sub-scheme being implemented across all States and Union Territories. No separate district-wise or state-wise employment target has been fixed under the scheme. However, the overall initiative aims to facilitate the creation of around 1.70 lakh jobs across the fisheries and aquaculture ecosystem. The employment focus covers fishers, fish farmers, fisheries entrepreneurs, micro and small enterprises, cooperatives and other stakeholders associated with the sector.
FAQs:
1. What is PM-MKSSY?
PM-MKSSY is a fisheries-focused sub-scheme designed to improve finance, insurance, technology, markets and employment opportunities.
2. How much insurance incentive can fish farmers get?
General-category beneficiaries can receive 40% of the insurance premium, subject to prescribed limits.
3. What is the maximum performance grant for fisheries microenterprises?
General-category microenterprises can receive up to ₹35 lakh, while eligible SC, ST and women-owned enterprises can receive up to ₹45 lakh.
4. Can fisheries cooperatives receive financial support?
Yes. Eligible SHGs, FFPOs, cooperatives and village-level organisations can receive performance grants of up to ₹2 crore, subject to scheme conditions.
5. How many jobs does PM-MKSSY aim to facilitate?
The scheme aims to facilitate around 1.70 lakh new jobs across the fisheries and aquaculture ecosystem.
