The Union Cabinet has recently given its approval for implementation of the Pradhan Mantri Matsya Sampada Yojana (PMMSY).
The scheme promotes sustainable and responsible development of the fisheries sector in India.
PMMSY has two components: Central Sector Scheme (CS) and Centrally Sponsored Scheme (CSS).
Under the CS component, the entire project or unit cost will be borne by the central government. While CSS components would work as follows:
- N-Eastern States: 90 (Centre): 10 (States)
- Himalayan States: 90 (Centre): 10 (States)
- Other States: 60 (Centre): 40 (States)
- UTs: 100% Central Share
The scheme primarily aims to address the critical gaps in the fisheries sector and augment fish production and productivity. Other benefits include creation of critical infrastructure, employment opportunities, social, physical & economic security, modernization of value chain and improved availability of certified quality fish seeds.
This step comes at a time when the country’s marine fishery sector has been badly hit by the Coronavirus-triggered lockdown. Reduced demand owing to COVID-19 outbreak in major export destinations like the United States, China and the European Union has started impacting the livelihood of fishermen adversely.