PMMSY: Investing Rs 20,050 crore in fisheries sector

The full form of PMMSY is Pradhan Mantri Matsya Sampada Yojana. It is a first-ever comprehensive plan to promote fisheries in India. Particularly, it is a flagship scheme for focused and sustainable development of the fisheries sector. Moreover, with an estimated investment of Rs 20,050 crore, this is the highest ever investment in the Fisheries and Aquaculture Sector. This digitally launched scheme is a part of the Atmanirbhar Bharat Abhiyan. Furthermore, launching the scheme in 21 states of India with the announcement in the Union Budget of 2019-2020.

Objectives:

• • In particular, the scheme intends to address the critical gaps in fish production, quality, technology, post-harvest infrastructure, and modernization
  • As a result, strengthening of the value chain and traceability too
  • Also, establishing a robust fisheries management framework for fishers’ welfare
  • Most importantly, PMMSY aims to bring the Blue Revolution through sustainable and responsible development of the fisheries sector in India.

It should be noted that the Department of Fisheries in the Ministry of Fisheries, Animal Husbandry, and Dairying is the implementing ministry for PMMSY.

Need for PMMSY:

• Fisheries and Aquaculture are not only an important source of food and nutrition but also employment and income in India.
• The sector alone accounts for providing livelihood to more than a million fishers and fish farmers at the primary level and twice the number along the value chain.
• Promising growth in the sector has been noticed over the years making it even more crucial with an average annual growth rate of 10.88% from the year 2014-15 to 2018-19. As a result, displaying the immense potential for development and ringing the bell for focused attention in the sector.

For this reason, the Government of India launched PMMSY as an Umbrella Scheme with 2 separate components for a period of 5 years (Financial Year 2021-2025). Namely:

1. Central Sector Scheme: 100% project cost to be borne by the Centre.
2. Centrally Sponsered Scheme: Implementation by the States/UTs for all the sub-components/activities. Along with this, sharing of the cost between the center and the state.

Expected Outcome:

• Enhancing the fish production likely from 13.75 to 22 million metric tons by 2024-25.
• A sustained average annual growth of about 9% in fish production.
• AN increase in the agriculture GVA from 7.28% (2018-19) to 9% (2024-25)
• Doubling of fishers income and export earnings.
• Reducing post-harvest losses from 20-25% to about 10%.
• Increased private investment, ease of doing business, job creation, access of new markets to the fish producers, etc.

Beneficiaries:

Fishers; Fish Farmers/Workers/Vendors; Self-help groups in the Fisheries sector; Fisheries cooperatives/federations; Entrepreneurs; Fish Farmer Producer Organizations (FFPO); SCs/STs/Women/Differently Abled Persons; last but not the least Government and its entities.

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