The Cabinet has approved the “Pradhan Mantri Matsya Sampada Yojana – A scheme to bring about Blue Revolution through sustainable and responsible development of fisheries sector in India” with investment of Rs. 20050 crores in fisheries sector.
The funds to be utilised over a period of five years. The Pradhan Mantri Matsya Sampada Yojana (PMMSY) was introduced by the government in its Union budget of 2019-20.
The allocation of funds comprises Central share of Rs. 9407 crore, State share of Rs 4880 crore and Beneficiaries contribution of Rs. 5763 crore. PMMSY will be implemented from FY 2020-21 to FY 2024-25 in all States/Union Territories.
Aims and objectives of PMMSY
- Harnessing of fisheries potential in a sustainable, responsible, inclusive and equitable manner
- Enhancing of fish production and productivity through expansion, intensification, diversification and productive utilization of land and water
- Modernizing and strengthening of value chain – post-harvest management and quality improvement
- Doubling fishers and fish farmers incomes and generation of employment
- Enhancing contribution to Agriculture GVA and exports
- Social, physical and economic security for fishers and fish farmers
- Robust fisheries management and regulatory framework
The government has plans to enhance fish production from 137.58 lakh metric tons (2018-19) to 220 lakh metric tons by 2024-25. In doing so, as per the government estimate the sector could generate about 55 lakhs direct and indirect employment opportunities in the fisheries sector along the supply and value chain.
Fisheries and aquaculture are an important source of food, nutrition, employment and income in India. The sector provides livelihood to more than 20 million fishers and fish farmers at the primary level and twice the number along the value chain.
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