For Prelims: Pradhan Mantri Matsya Sampada Yojana (PMMSY), Atmanirbhar Bharat, Kisan Credit Card, economic significance. 

For Mains: Government Initiatives for Rural Economy, Pradhan Mantri Matsya Sampada Yojana (PMMSY), its Achievements, Significance, and Way Forward

Why in the news?

Pradhan Mantri Matsya Sampada Yojana (PMMSY) recently celebrated its second anniversary.

  • By the end of 2024–2025, 68 lakh jobs are expected to be created, according to PMMSY.

What do we need to know about PMSSY?

  • The Pradhan Mantri Matsya Sampada Yojana (PMMSY) is intended to close significant gaps in fisheries management, quality, technology, post-harvest infrastructure and management, modernization and strengthening of the value chain, traceability, and fishers' welfare.
  • The Central Sector Scheme (CS) and the Centrally Sponsored Scheme (CSS) are the two distinct components of the umbrella program known as the PMMSY.
  • The Government of India launched PMMSY as a component of the "Atma Nirbhar Bharat" package with an investment of Rs. 20,050 crores, the largest ever in the fishing industry.
  • Fishermen are given access to financial aid, insurance coverage, and a Kisan Credit Card facility.
  • Under the following three general headings, the Centrally Sponsored Scheme (CSS) Component is further divided into beneficiary- and non-beneficiary-oriented subcomponents/activities:

    • Enhancement of Production and Productivity
    • Infrastructure and Post-harvest Management
    • Fisheries Management and Regulatory Framework
  • According to estimates, Pradhan Mantri Matsya Sampada will cost a total of Rs. 20,050 crores, of which the Central Government will contribute Rs. 9407 crores, the State will contribute Rs. 4880 crores, and the Beneficiaries will contribute Rs. 5763 crores. 
  • From FY 2020–21 to FY 2024–25, PMMSY will be implemented across all states and union territories for a total of 5 years. 

Aims and Objectives

  • Maximizing fishing potential to increase fish production and productivity.
  • Enhancing quality and post-harvest management as part of the value chain's modernization and strengthening.
  • increasing employment and tripling the incomes of fish farmers and fishermen Contributing more to GVA and exports from agriculture Fish farmers and fishermen should have social, physical, and financial security.
  • a strong regulatory and management structure for fisheries
  • By utilizing rural resources and quickly boosting the rural economy, PMMSY strives to achieve the goal of rural development.
  • In the fisheries sector, PMMSY's primary tagline is "Reform, Perform, and Transform."
  • The PMMSY initiative's reforms and initiatives have been implemented in:
    • Core & trunk infrastructure development
    • Modernization of Indian fisheries by undertaking the efforts such as:
      • Push for new fishing harbours/landing centres
      • Modernisation and mechanization of traditional fishermen crafts-trawlers-deep sea-going vessels
      • Provision of post-harvest facilities to reduce post-harvest loss
      • Cold chains facilities
      • Clean and hygienic fish markets
      • Two-wheelers with ice boxes

Implementation strategy for PMMSY

Since the Central Sector and Centrally-sponsored Scheme Components are a part of the PMMSY, it is being implemented as an umbrella scheme. In order to concentrate on the overall development of the fishing industry, the scheme is anticipated to intervene at nearly all significant points along the fisheries value chain.

  • The implementation is done in cooperation with the states/union territories in order to carry out the plan effectively and obtain the best results. Despite the fact that the financing of the plan varies depending on the parts and the regions, in some crucial areas of national importance, the central government covers all expenses.
  • The primary goal of PMMSY is to increase fish production, but it is crucial to ensure quality, sustainability, standards, and traceability in the fisheries industry. To accomplish its goals, the program promotes private participation and the growth of an entrepreneurial culture in the fishing industry.
  • Additionally, the plan will look for appropriate synergies and connections with other programs run by the federal and state governments. The "Sagarmala Project" of the Ministry of Shipping, PMKSY of the Ministry of Food Processing Industries, MGNREGS and the National Rural Livelihoods Mission of the Department of Rural Development, Rashtriya Krishi Vikas Yojana (RKVY) and other programs under the Ministry of Agriculture and Farmers Welfare are a few of the identified linkage schemes.

Performance of PMMSY

  • The sector of fisheries experienced impressive growth between 2019–20 and 2021–2022 of 14.3%.
    • A record-breaking 141.64 lakh tons of fish were produced in 2019–20, and that number increased to 161.87 lakh tons in 2021–22.
    • Shrimp exports accounted for the majority of the 13.64 lakh tonnes worth of exports in the fishing industry, valued at Rs 57,587 crore.
    • Exports are currently being made to 123 nations, including China, Thailand, Japan, Taiwan, Tunisia, the US, Hong Kong, Kuwait, etc.
  • 31.47 lakh farmers have received support from PMMSY through insurance coverage from 22 states and 7 UTs.
  • Implementation:
    • It is put into practice as an umbrella scheme with two distinct parts, namely:
      • Central Sector Scheme: The central government will cover the project's costs.
      • Centrally Sponsored Scheme: The States/UTs will carry out all the supporting components and activities, and the Center and State will split the associated costs.
  • Forthcoming Plan:
    • Promotion of aquaculture will be prioritized in Northern India's saline and alkaline regions.
    • A coordinated laboratory network will support the focus on aquatic health management, which will address disease, antibiotic, and residue issues.
  • Way Forward:
    • The foundation of PMMSY consists of fisheries and fish farmers. By using technology, public stocking, and programs to restore water bodies through river and sea ranching, we can utilize the full potential of our reservoirs and natural resources.
    • For India to become the most productive nation in the world, scientific methods must be used in fish farming.