Pradhan Mantri Matsya Kisan Samriddhi Sah-Yojana (PM-MKSSY): A New Initiative to Promote Fisheries

The Department of Fisheries, the Ministry of Fisheries, Animal Husbandry, and Dairying, is implementing the Pradhan Mantri Matsya Kisan Samriddhi Sah-Yojana (PM-MKSSY) as a new Central Sector Sub-Scheme under the Pradhan Mantri Matsya Sampada Yojana (PMMSY). This scheme will be implemented over a period of four years, from FY 2023-24 to FY 2026-27, with an estimated budget of ₹6000 crore. As of now, ₹11.84 crore has been sanctioned under the PM-MKSSY.

Key Provisions of PM-MKSSY:

One-Time Incentive for Aquaculture Farmers:

Component 1-B of PM-MKSSY, aquaculture farmers will receive a one-time incentive for purchasing insurance. This benefit is applicable to farms with a water spread area of up to 4 hectares. Incentive Amount- Farmers will receive 40% of the insurance premium cost as an  incentive. Maximum Limit- The incentive is capped at ₹25,000 per hectare of water spread area and a maximum of ₹1,00,000 for farms up to 4 hectares.

Incentives for Other Aquaculture Systems:

Farmers engaged in cage culture, Recirculatory Aquaculture System (RAS), bio-floc, raceways, etc. will receive an incentive covering 40% of the insurance premium.
Maximum Unit Size: 1,800 cubic meters (m³). Maximum Incentive: ₹1,00,000.

Additional Benefits for Special Categories:

Scheduled Castes (SC), Scheduled Tribes (ST), and Women beneficiaries will receive an additional 10% incentive. The insurance coverage under this scheme applies to only one crop cycle.

Financial Assistance for Fisheries Micro and Small Enterprises:

1. Component 3 of PM-MKSSY, performance grants will be provided to fisheries micro and small enterprises to adopt safety and quality assurance systems.
2. For Micro Enterprises, General Category: 25% of total investment or ₹35 lakh, whichever is lower. SC, ST, and Women Entrepreneurs: 35% of total investment or ₹45 lakh, whichever is lower.
3. For Small Enterprises, General Category: 25% of total investment or ₹75 lakh, whichever is lower.
4. SC, ST, and Women Entrepreneurs: 35% of total investment or ₹100 lakh, whichever is lower.
5. For Village Level Organizations (VLOs), Self-Help Group (SHG) Federations, Fish Farmer Producer Organizations (FFPOs), and Cooperatives 35% of total investment or ₹200 lakh, whichever is lower.

Benefits of PM-MKSSY for Fisheries Farmers:

1. Financial security for fisheries farmers.
2. Insurance coverage to protect against natural disasters and other risks.
3. Increased business opportunities for small and medium enterprises in the fisheries sector.
4. Government support to improve quality standards, enhancing the competitiveness of Indian fishery products in global markets.

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