Home General Insurance Pradhan Mantri Matsya Sampada Yojana Features and benefits

Pradhan Mantri Matsya Sampada Yojana Features and benefits

Pradhan Mantri Matsya Sampada Yojana

Increased revenue for the nation’s fish growers and fishermen is the goal of the Pradhan Mantri Matsya Sampada Yojana (PMMSY), which was launched in September 2020. It is a part of the Atmanirbhar Bharat plan and concentrates on the sustainable growth of the Indian fisheries industry.

The plan used a “cluster or area-based approach” to organize fisheries. The program focuses on endeavors that have the potential to produce employment, like the cultivation of ornamental fish and seaweed. Additionally, it places a focus on breeding practices for high-quality brood, seed & feed, and species diversification.

With the execution of the scheme, the government wants to triple the incomes of fish farmers and fishermen, reduce post-harvest losses from 20 to 25 percent to 10 percent, and generate an additional 55 lakh direct and indirect job opportunities.

Accordingly, the Pradhan Mantri Matsya Sampada Yojana’s primary goals are as follows:

  • raising fish production from 13.75 million metric tonnes in 2018–19 to 22 million metric tonnes by 2024–2025.
  • from 3 tonnes to 5 tonnes per hectare of increased aquaculture output.
  • increasing per-capita home fish intake from 5 kg to 12 kg.
  • raising the agricultural GVA from the fisheries sector from 7.28% in 2018–19 to around 9% by 2024–25.
  • increasing export revenue to Rs. 100,000 crore (US$ 13.68 billion) by 2024–25 from Rs. 6.37 billion dollars (46,589) in 2018–19.
  • bringing post-harvest losses down to 10% or less.
  • creating 55 lakh chances for direct and indirect employment throughout the value chain.

Read More: What are the Four Simple Ways to Check Your EPF Account Number?

Section 1: Understanding the Pradhan Mantri Matsya Sampada Yojana

Objectives of PMMSY: The primary objectives of PMMSY include doubling fishers’ incomes, increasing fish production, generating employment opportunities, attracting private investments, promoting sustainable aquaculture practices, and enhancing the overall socio-economic status of fish farmers and coastal communities.

Allocation of funds: The government has allocated significant financial resources to the scheme, with a target investment of ₹20,050 crore over a five-year period, starting from 2020-21.

Implementation agencies: The implementation of PMMSY is led by the Department of Fisheries, Ministry of Fisheries, Animal Husbandry, and Dairying, Government of India, in collaboration with state governments, Union Territories, and other stakeholders.

Section 2: Key Components of Pradhan Mantri Matsya Sampada Yojana

Integrated Fisheries Development and Management (IFDM): This component focuses on improving infrastructure, such as fishing harbors, landing centers, cold storage facilities, and fish markets, to enhance post-harvest management and value addition.

Aquaculture Development: PMMSY aims to promote sustainable aquaculture practices through the introduction of new technologies, improved hatcheries, fish seed production, and better disease management.

Fisheries Management and Regulatory Framework: This component emphasizes the development of robust fisheries management systems, including the implementation of fisheries regulations, fish stock assessment, and the conservation of fishery resources.

Infrastructure and Fishing Vessel Support: PMMSY provides financial assistance for the construction and modernization of fishing vessels, including deep-sea fishing vessels, and the development of related infrastructure.

Institutional Arrangement, Capacity Building, and Fisheries Extension: This component focuses on strengthening institutional mechanisms, capacity building of fishers and fish farmers, and the provision of fisheries extension services to promote entrepreneurship and skill development in the fisheries sector.

Read More: IPL 2022: Five Uncapped Hitters to Keep an Eye On

Section 3: Benefits of Pradhan Mantri Matsya Sampada Yojana

Empowering fishers and fish farmers: PMMSY aims to enhance the socio-economic status of fishers and fish farmers by providing them with better infrastructure, training, and access to credit facilities, enabling them to improve their livelihoods and increase their incomes.

Employment generation: The scheme is expected to generate significant employment opportunities in the fisheries sector, both directly and indirectly, leading to economic growth and poverty alleviation in coastal regions.

Sustainable aquaculture practices: PMMSY promotes sustainable aquaculture practices, including the adoption of efficient feed management techniques, improved disease control measures, and the use of eco-friendly farming methods, ensuring long-term environmental sustainability.

Market linkages and value addition: The scheme aims to establish robust market linkages for fishers and fish farmers, facilitating better price realization for their produce. Additionally, PMMSY encourages value addition through the establishment of processing units and the promotion of fish-based products.


As of January 2021, proposals from various states and UTs had an outlay of Rs. 6,567.20 crore (US$ 898.17 million). There have already been approved project bids totaling Rs. 2,309.08 crores ($315.80 million).

800,000 beneficiaries and employees nationwide are expected to have been impacted by the PMMSY scheme.

The government suggested making large-scale investments to improve fishing ports and landing areas for the management of healthy fish and the reduction of post-harvest degradation, excessive costs, etc. The government committed money for deep-sea boats and constructing an integrated laboratory network for diagnostic and quality testing, totaling Rs. 7,700 crores ($1.05 billion).

Previous articleHealth Insurance Plans For Diabetics
Next articleHealth Insurance for High Blood Pressure