Incepted in its fourth year, the Pradhan Mantri Matsya Sampada Yojana (PMMSY) is a significant scheme introduced by the Department of Fisheries to boost the fisheries sector in India. The department aims to accelerate the scheme’s implementation and has scheduled multiple review meetings with various states and Union Territories (UTs). The first such review meeting was recently conducted in Northeastern India.
Understanding PMMSY
The Pradhan Mantri Matsya Sampada Yojana is designed to trigger the Blue Revolution, intending to foster sustainable and responsible growth in the fisheries sector in India. Initiated as part of the ‘Atma Nirbhar Bharat’ package, it is being executed across all States and UTs for five years – from FY 2020-21 to FY 2024-25. This scheme offers fishermen insurance coverage, financial aid, and a Kisan Credit Card (KCC) facility for easy access to institutional credit.
Scheme Structure
PMMSY operates under two primary components: the Central Sector Scheme, where project cost is incurred by the central government, and the Centrally Sponsored Scheme where all sub-components or activities are enacted by the States/UTs. In this, the expenses are shared by both the Centre and the State.
Objectives of PMMSY
The key objectives of PMMSY include leveraging the potential of the fisheries sector responsibly, increasing fish production through land and water utilization, modernizing the value chain, doubling the income of fishers, augmenting the fisheries sector’s contribution to Gross Value Added (GVA) and exports, improving social, physical, and economic security for fishers and building a robust regulatory framework for fisheries management.
Significance of the Fisheries Sector in India
The fisheries sector contributes significantly to national income, exports, food and nutritional security, and employment generation. It supports over 2.8 crore fishers and fish farmers at the primary level and several others along the value chain. The sector is also a major income source for a large portion of India’s economically disadvantaged population.
Achievements under PMMSY
As per the data till 2023, projects worth Rs 14,654.67 crore have been approved under PMMSY from 2020-21 to 2022-23. With the highest-ever fish production of 16.25 MMT during FY 2021-22, India stands as the third-largest fish producer and the second-largest aquaculture producer globally.
Challenges in Implementing PMMSY
Despite the achievements, the implementation of PMMSY faces several roadblocks. There is a lack of adequate infrastructure and technology catering to fish production, processing, storage, transportation, and marketing. Another challenge arises from the deficiency of skilled manpower and extension services required for adversity management in the sector. The inadequate access to credit and insurance for fishers and farmers pose financial and social challenges.
Other Initiatives Related to the Fisheries Sector
Other initiatives that aim to promote the fisheries sector include Sagar Parikrama, Palk Bay Scheme, and Fisheries and Aquaculture Infrastructure Development Fund (FIDF).
The Blue Revolution and Kisan Credit Card Scheme
The Blue Revolution, with its multi-dimensional activities, primarily focuses on increasing fisheries production from aquaculture and fisheries resources—both inland and marine. On the other hand, the Kisan Credit Card Scheme was introduced in 1998 to provide single-window credit support to farmers for cultivation needs and other agriculture-related purchases. In Budget 2018-19, this scheme was extended to fisheries and animal husbandry farmers to cater to their working capital needs.