The Pradhan Mantri Matsya Kisan Samridhi sah-Yojana (PMSSY) is a central sector scheme launched in 2023 by the Ministry of Fisheries, Animal Husbandry, and Dairying. The scheme aims to enhance the earnings and incomes of fishermen, fish vendors and micro and small enterprises engaged in the fisheries sector.
- Scheme Name: Pradhan Mantri Matsya Kisan Samridhi sah-Yojana
- Scheme Modified/Implemented: 2023
- Scheme Fund Allocated: INR 6000 crores
- Type of Government Scheme: Central scheme
- Sponsored/Sector Scheme: Sector scheme
- Nodal Ministry: Ministry of Fisheries, Animal Husbandry and Dairying
Features of the Scheme
The Pradhan Mantri Matsya Kisan Samridhi sah-Yojana offers the following key features:
|Formalization of the fisheries sector||Focus on expanding the domestic market and creating job opportunities for women|
|Digital inclusions||Facilitates access to institutional finance for capital investment and working capital|
|Incentives for reducing risk in aquaculture and fisheries||Promotes system and institution building to reduce risks and enhance efficiencies|
|Incentives for micro and small enterprises||Encourages microenterprises in fisheries and aquaculture to work on value chain efficiencies|
|Establishing supply chains for fish product delivery to consumers||Incentivizes micro and small enterprises to establish supply chains for the delivery of fish products|
The scheme was recently launched in the year 2023. In the budget for FY 2023-24, a total of INR 2248.77 crore has been allocated to the Department of Fisheries, marking a significant increase of 38.45% over the budget of FY 2022-23. Furthermore, India has achieved remarkable growth in the fisheries sector, becoming the 3rd largest fish producer, 2nd largest aquaculture producer, and 4th largest exporter of fish and fisheries products.
Benefits of Pradhan Mantri Matsya Kisan Samridhi sah-Yojana
- Enhances the earnings and incomes of fishermen, fish vendors and micro and small enterprises in the fisheries sector.
- Expands the domestic market for fish products.
- Provides incentives for job creation, especially for women in the sector.
- Facilitates access to institutional finance for capital investment and working capital.
- Reduces risks in aquaculture and fisheries operations.
- Promotes value chain efficiencies and establishes supply chains for fish product delivery.
It is important to note that the scheme’s effectiveness may vary based on specific circumstances and the segment of the fishing community. Some potential drawbacks may include:
- The scheme may have limited impact if the fisherfolk belong to certain marginalized or remote communities that face challenges in accessing the benefits.
- The scheme’s success depends on proper implementation and coordination at various levels.
In conclusion, the Pradhan Mantri Matsya Kisan Samridhi sah-Yojana is a significant step towards boosting the earnings and incomes of fishermen, fish vendors and micro and small enterprises in the fisheries sector. With its focus on formalization, digital inclusion and incentives for value chain efficiencies, the scheme aims to expand the domestic market, create job opportunities for women and reduce risks in aquaculture and fisheries operations. The increase in budget allocation and India’s remarkable growth in the fisheries sector further highlight the government’s commitment to supporting and promoting this vital industry. However, it is crucial to ensure effective implementation and address any potential challenges to ensure that the benefits of the scheme reach all segments of the fishing community.