News Excerpt

The Cabinet approves "Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)" a Central Sector Sub-scheme under the Pradhan Mantri Matsya Sampada for the fisheries sector micro and small enterprises.

• It comes under the Ministry of Fisheries, Animal Husbandry & Dairying.

Aims and objectives of PM-MKSSY:

• Formalization: Gradual Formalization of the unorganized fisheries sector through self registration of fishers, fish farmers and supportive workers under a National Fisheries Sector Digital Platform including creation of work based digital identities of fish workers for improved service delivery.
• Access to Institutional Financing: Facilitating access to institutional financing fisheries sector micro and small enterprises.
• Aquaculture Insurance: Providing one-time incentive to beneficiaries for purchasing aquaculture insurance.
• Incentivizing Value-Chain Efficiencies: lncentivizing fisheries and aquaculture microenterprises through performance grants for improving fisheries sector value-chain efficiencies including creation and maintenance of jobs.
• Ensuring Safety and Quality Assurance: Incentivising micro and small enterprises through performance grants for adoption and expansion of fish and fishery product safety and quality assurance systems including creation and maintenance of jobs.

Major Impact of PM-MKSSY:

• National Fisheries Digital Platform: To create a National Fisheries Digital Platform to provide 40 lakh small and micro-enterprises work based identities.
• Job Creation: It is projected to create 1.7 lakh new jobs, with a special emphasis on employing 75,000 women and also aims to generate 5.4 lakh continued employment opportunities in the micro and small enterprises value chain.
• Performance-Based Incentives: Gradual shift from conventional subsidies to performance based incentives in fisheries
• Addressing Aquaculture Crop Losses: Address issues of aquaculture crop losses due to disease through insurance coverage for aquaculture to strengthen production, productivity. Enhance export competitiveness through value addition, value realization and value creation
• Value Chain Efficiencies: Increase in incomes due to enhanced profit margins due to value chain efficiencies
• Enhanced Quality: Improved quality of fish and fishery products in domestic market
• Strengthening Domestic Markets and Business Growth: Strengthening and deepening of domestic markets. Facilitating growth of businesses, creation of jobs and creation of business opportunities.
• Women Empowerment: Women Empowerment through creation of jobs and safe working place