Pradhan Mantri Matsya Sampada Yojana 2023: How to Apply, Eligibility and Documents Required

Pradhan Mantri Matsya Sampada Yojana

Pradhan Mantri Matsya Sampada Yojana aims to bring the¬†Blue Revolution¬†through the sustainable development of the country’s fishery sector. This scheme is launched to develop the fisher sector with five years plan from 2020-2025. Here are the objectives, importance, and process to apply for PM Matsya Sampada Yojana.

Matsya Sampada Yojana is an umbrella scheme to develop the country’s fisheries sector. With this scheme, the government aims to develop the fisheries sector with a total outlay of Rs 20050 crores.

The Central share of Rs 9407 crores, the State share of Rs 4880 crores, and the Beneficiary’s contribution of Rs 5763 crores. This scheme has five years of tenure, starting from FY 2020/21 to FY 2024/25.

Pradhan Mantri Matsya Sampada Yojana 2023

Under the direction of the central government, the Department of Fisheries has taken these necessary steps. The fishers, fish farmers, fisheries development companies, etc. And all bodies related to the fish industry benefit from this scheme.

This is the first time the government to implement this scheme for the genetic improvement of fish species and growing breeding centers for self-reliance. Also, with this scheme, the government aims to provide direct employment to more than 15 lakh citizens of the country.

Besides, the Pradhan Mantri Matsya Sampada Yojana (PMMSY)  is launched to find out the critical gaps in fish production and to maintain the quality and flavor of fishers. This is an umbrella scheme with two different components. 

Central Sector Scheme

Centrally Sponsored Scheme

The Central government launches Pradhan Mantri Matsya Sampada Yojana to provide financial assistance to startups and small businesses. This scheme targets only the unemployed educated youths. So, the youth meeting the eligibility can be the Beneficiary of this scheme.

The government provides loans up to Rs 5 depending upon the nature and scale of the business industry. This is the initial and helpful step by the government to play the role of starting one’s enterprise in the trade and service sectors.

PM Matsya Sampada Yojana Highlights 

Scheme NamePM Matsya Yojana
Launched byCentral Government
BeneficiaryFishers and Its Fish Farmers
PurposeEnhance fish production and productivity
BenefitsContribution to the fisheries sector of the country
Websitehttp://nfdb.gov.in/PMMSY
Homepagehttps://pmofindia.in/

Features of Pradhan Mantri Matsya Sampada Yojana 2023

Here are the significant points regarding this Pradhan Mantri Matsya Sampada Yojana 2023 (PMMSY),

  • The PMMSY scheme is launched to discover the critical fish production gaps and productivity gaps.
  • This scheme is based on an Umbrella scheme with two components, Central Sector Scheme and the Centrally Sponsored Scheme.
  • This scheme has already approved a total investment of more than 200500 crores.
  • This scheme has five years, from FY 2020 to FY 2025.
  • This scheme aims to double the income of fishers and fish farmers.

Objectives of PM Matsya Sampada Yojana

Pradhan Mantri Matsya Sampda Yojana’s main motto is to develop the country’s fisheries sector. This scheme has two major components with a total outlay of Rs 20050 crores. 

  • To enhance production and productivity.
  • To increase the potential of the fisheries sector in a sustainable, responsible, and equitable manner.
  • To utilize the resources effectively for the production of fish.
  • To modernize the value chain and double the fishers and income from fish
  • To generate employment opportunities for 15lakh people.
  • To provide economic and social security to the fish farmers and fishermen.
  • To increase domestic fish consumption from 5kg to 12kg per capita.
  • To decrease post-harvest loss from 25% to 10 percent.

PMMSY Scheme Components

Pradhan Mantri Matsya Sampada Scheme is an umbrella scheme with two different components. 

Central Sector Scheme (CS)

Central Sponsored Scheme (CSS)

The CSS component is broad than CS. This scheme it’s divided into Non-beneficiary and Beneficiary oriented. This component deals with the three major points, 

  • Enhancement of production
  • Post-harvest management 
  • Fisheries management

Beneficaries of PM Matsya Sampada Yojana

Besides the fish and fish farmers, all these are the beneficiaries of this scheme,

  • Fishers and Fish Farmers
  • Fish vendors and workers
  • Fisheries Development Corporations and Co-operatives
  • Fish Farmers Producer Organizations and Companies
  • State government and UTs 
  • Fish Development Boards and Central Government

Impact of PMMSY Scheme on Employment Generation

This scheme aims to provide employment opportunities to 15 lakh people. Also, it has sought to increase fish productivity from 13.75 million metric tons to 22 million metric tons by 2025. 

As per the report, the sustained growth rate of fish production is around 7.28% annually which is expected to grow by 9% by 2024/25. Also, expected earnings are to double by 2024/25.

Currently, the present earnings are Rs 46589 crores which are to be increased by Rs 100000 crores by 2024/25. With all this, around 15 lakh people will get employment opportunities.

This employment creates human resources to meet all these expected goals by 2024/25. Besides, doubling income by 2024/25 is also an aim of the government from this scheme.

Creation of the Fisheries and Aquaculture Infrastructure Development Fund (FIDF)

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has approved the creation of the Fisheries and Aquaculture Infrastructure Development Fund (FIDF).

FIDF will provide concessional finance to State Governments/Union Territories and State Institutions, Co-operative Societies, Individuals and Entrepreneurs, etc., to take up identified investment activities in fisheries development.

How to Apply for Pradhan Mantri Matsya Sampada Yojana 2023

Regarding this scheme, one can check it out from its official site of it. From the official, you can register and be the Beneficiary of this scheme.

FAQ

What is the PM Matsya Sampada Yojana?

PM Matsya Sampada Yojana is the scheme for providing the potentiality to the fisheries for sustainable and efficient use of resources for fish production.

How long does this Yojana Last?

This scheme will be in the scheme from 2020 to 2025. The tenure of this scheme is for five years, aiming to enhance the country’s fisheries sector.

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