PM Matsya Sampada Yojana 2024-25 Guidelines PDF | Check PMMSY Announcement in Union Budget 2024-2025

Sneha - February 02, 2024

Central government has approved PM Matsya Sampada Yojana at a total estimated investment of Rs. 20,050 crores. Pradhan Mantri Matsya Sampada Yojana would be implemented over a period of 5 years from FY 2020-21 to FY 2024-25. The PMMSY scheme intends to address critical gaps in fish production and productivity, quality, technology, post-harvest infrastructure and management, modernisation and strengthening of value chain, traceability, establishing a robust fisheries management framework and fishers welfare.

The Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying, Government of India is implementing Pradhan Mantri Matsya Sampada Yojana for welfare of fishers and fish farmers.

PM Matsya Bima Yojana in Union Budget 2024-25

Finance minister presented Union Budget 2024-25 in which she said that it was our government which set up a separate Department for Fisheries realizing the importance of assisting fishermen. This has resulted in doubling of both inland and aquaculture production. Seafood export since 2013-14 has also doubled. Implementation of Pradhan Mantri Matsya Sampada Yojana (PMMSY) will be stepped up to:

enhance aquaculture productivity from existing 3 to 5 tons per hectare,
double exports to Rs. 1 lakh crore and
generate 55 lakh employment opportunities in near future.

She even mentioned that five integrated aquaparks will also be setup.

PMMSY Components

The PMMSY is an umbrella scheme with two separate Components namely

Central Sector Scheme (CS) and
Centrally Sponsored Scheme (CSS) - This component is further segregated into non-beneficiary oriented and beneficiary orientated sub-components/activities under the following three broad heads:

Enhancement of Production and Productivity
Infrastructure and Post-harvest Management
Fisheries Management and Regulatory Framework

Objectives of PM Matsya Sampada Yojana

The major objectives of Pradhan Mantri Matsya Sampada Yojana (PMMSY) are as follows:-

Harness the potential of the fisheries sector in a sustainable, responsible, inclusive and equitable manner
Enhance fish production and productivity through expansion, intensification, diversification and productive utilization of land and water
Modernize and strengthen the value chain including post-harvest management and quality improvement
Double fishers and fish farmers’ incomes and generate meaningful employment
Enhance the contribution of the fisheries sector to Agricultural GVA and exports
Ensure social, physical and economic security for fishers and fish farmers
Build a robust fisheries management and regulatory framework

Beneficiaries under PM Matsya Sampada Yojana

The intended beneficiaries under the Pradhan Mantri Matsya Sampada Yojana (PMMSY) amongst the others include the following. The intended beneficiaries under the Pradhan Mantri Matsya Sampada Yojana are:

Fishers
Fish farmers
Fish workers and Fish vendors
Fisheries Development corporations
Self Help Groups (SHGs)/Joint Liability Groups (JLGs) in fisheries sector
Fisheries cooperatives
Fisheries Federations
Entrepreneurs and private firms
Fish Farmers Producer Organisations/Companies (FFPOs/Cs)
SCs/STs/Women/Differently abled persons

PM Matsya Sampada Yojana in Union Budget 2023-24

On 1 Feb 2023, FM Nirmala Sitharaman said "We will launch a new sub-scheme of PM Matsya Sampada Yojana with targeted investment of Rs. 6,000 crore to further enable activities of fishermen, fish vendors, and micro & small enterprises, improve value chain efficiencies, and expand the market".

Major Impact of PMMSY Scheme

An investment of Rs. 20,050 Crore under PMMSY is the highest ever in Fisheries and Aquaculture Sector. Therefore, the scheme sets an ambitious targets. The anticipated outcomes on account of implementation of Pradhan Mantri Matsya Sampada Yojana (PMMSY) in quantifiable terms are as below:-

The fish production is likely to be enhanced from 13.75 million metric tons (2018-19) to 22 million metric tons by 2024-25.
A sustained average annual growth of about 9% in fish production is expected.
An increase in the contribution of GVA of fisheries sector to the Agriculture GVA from 7.28% in 2018-19 to about 9% by 2024-25.
Double export earnings from the present Rs. 46,589 crore (2018-19) to about Rs.1,00,000 crore by 2024-25.
Enhancement of productivity in aquaculture from the present national average of 3 tonnes to about 5 tonnes per hectare.
Reduction of post-harvest losses from the reported 20-25% to about 10%.
Doubling of incomes of fishers and fish farmers.
Generation of about 15 lakhs direct gainful employment opportunities and thrice the number as indirect employment opportunities along the supply and value chain.
Enhancement of the domestic fish consumption from about 5 kg to about 12 kg per capita.
Encouragement of private investment and facilitation of growth of entrepreneurship in the fisheries sector