About PMMSY

• The central government launched the Pradhan Mantri Matsya Sampada Yojana (PMMSY) in 2020 to bring about the Blue Revolution through sustainable and responsible development of the fisheries sector in India. 

• PMMSY is being implemented in all the States and Union Territories for a period of 5 years from FY 2020-21 to FY 2024-25.
• It is implemented by the Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying.

Objectives

• It is a flagship scheme for integrated, sustainable, inclusive development of the marine and inland fisheries sector.
• It aims at enhancing fish production by an additional 70 lakh tonnes by 2024-25, increasing fisheries export earnings to Rs.1,00,000 crore by 2024-25, doubling of incomes of fishers and fish farmers, reducing post-harvest losses from 20-25% to about 10%.
• It is designed to address critical gaps in fish production and productivity, quality, technology, post-harvest infrastructure and management, modernization and strengthening of value chain, traceability and establishing a robust fisheries management framework and fishers’ welfare. 
• It primarily focuses on adopting ‘Cluster or Area based approaches’ and creation of Fisheries clusters through backward and forward linkages.
• The scheme also aims at generating additional 55 lakhs direct and indirect gainful employment opportunities in the fisheries sector and allied activities.
• Under PMMSY, financial assistance for livelihood and nutritional support are provided for traditional and socio-economically backward, eligible active marine and inland fishermen families during the fishing ban period.
• PMMSY also supports insurance coverage for fishermen and offers interest subvention schemes for fishing vessels. 
• PMMSY is implemented as an umbrella scheme having both Centrally Sector Components and Centrally Sponsored Scheme Components.

Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana

• In February 2024, the Union Cabinet approved the “Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)”, a sub-scheme under the Pradhan Mantri Matsya Sampada Yojana for formalization of the fisheries sector and supporting fisheries micro and small enterprises.