PM Matsya Sampada Yojana- A New Sub Scheme Launched, Check Details

FM Nirmala Sitharaman has announced the launch of a new sub-scheme under the PM Matsya Sampada Yojana with a Rs 6,000 crore target investment to boost the seafood industry, improve post-harvest management and marketing, and help expand markets for fishermen, fish vendors, and SME vendors.

What is PM Matsya Sampada Yojana?

A scheme to bring about the Blue Revolution in India through sustainable and responsible development of the fisheries sector at an estimated investment of Rs. 20050 crores for holistic development of the fisheries sector, including fisher welfare. PMMSY is intended to address critical gaps in the fisheries value chain, including fish production, productivity, and quality, as well as technology, post-harvest infrastructure, and marketing. It aims to modernise and strengthen the value chain, improve traceability, and establish a strong fisheries management framework while also ensuring the socioeconomic well-being of fishers and fish farmers.

PMMSY Objectives

• Utilize the sector's potential in a sustainable, responsible, inclusive, and equitable manner.
• Increase fish production and productivity by expanding, intensifying, diversifying, and making better use of land and water.
• Improve quality and modernise the value chain, including post-harvest management.
• Increase the incomes of fishermen and fish farmers while creating meaningful employment
• Increase the fisheries sector's contribution to agricultural GVA and exports.
• Ensure fishers' and fish farmers' social, physical, and economic security
• Create a strong fisheries management and regulatory framework.

The Finance Minister has stated that the agriculture credit target will be increased to Rs. 20 lakh crore focusing on the animal husbandry, dairy, and fisheries.A new sub-scheme of the PM Matsya Sampada Yojana with a targeted investment of Rs. 6,000 crore will also be launched to further enable the activities of fishermen, fish vendors, and micro and small enterprises, improve value chain efficiencies, and expand the market.