Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana
Source: PTI
GS II: Welfare schemes for vulnerable sections of the population by the Centre and States and the performance of these schemes; mechanisms, laws, institutions and Bodies constituted for the protection and betterment of these vulnerable sections
Overview
- News in Brief
- How it helps
Why in the News?
Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY).
Importance of Fisheries Sector
- Over the period from 2013-14 to 2023-24, significant improvements have been made in the fisheries sector in terms of fish production, which increased by 79.66 lakh tonnes
- This is equivalent to an increase in 43 years (1971 to 2014).
- Robust growth of Coastal Aquaculture from 2013-14 to 2022-23.
- Shrimp production increased from 3.22 lakh tonnes to —11.84 lakh tonnes (270%).
- Shrimp exports more than doubled from Rs.19,368 crore to Rs.43,135 crore (123%)
- Employment and Livelihood opportunities to about 63 lakh fishers and fish farmers.
- There has been a notable rise in Livelihood and Nutritional Support for traditional fisher families, increasing from 3,40,397 to 5,97,709.
Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)
- It is a Central Sector Sub-scheme under the Pradhan Mantri Matsya Sampada Yojana (PMMSY).
- Aim: For formalization of the fisheries sector and supporting fisheries micro and small enterprises
- Outlay: Over Rs. 6,000 crores
- Rs.3,000 crore public finance including the World Bank and the AFD external financing
- Rs.3,000 crore being the anticipated investment from the beneficiaries/private sector leverage
- Duration: It will be implemented for 4 (four) years from FY 2023-24 to FY 2026-27 across all the States and UTs.
Need for the PM-MKSSY Scheme
- There are several sectoral challenges felt in the sector.
- The sector is
- Informal in nature
- Lack of crop risk mitigation
- Lack of work-based identities
- Poor access to institutional credit
- Sub-optimal safety & quality of fish sold by micro & small enterprises.
- New-sub-scheme under the existing Pradhan Mantri Matsya Sampada Yojana (PMMSY) aims to address these issues, with a total outlay of Rs.6,000 crore.
Beneficiaries of PM-MKSSY
- Fishers, Fish (Aquaculture) Farmers, Fish workers, Fish Vendors or other persons directly engaged in the fisheries value chain.
- Micro and Small enterprises in the form of Proprietary Firms, Partnership Firms and Companies registered in India, Societies, Limited Liability Partnerships (LLPs), Cooperatives, Federations, Village Level Organizations like Self Help Groups (SHGs), Fish Farmers Producer Organizations (FFPOs) and Startups engaged in fisheries and aquaculture value chains.
- FFPOs also include Farmer’s Producer Organizations (FPOs).
- Any other beneficiaries that may be included by the Department of Fisheries, Gol as targeted beneficiaries.
The outcome of the project
- To create a National Fisheries Digital Platform to provide 40 lakh small and micro-enterprises work-based identities.
- For gradual formalization of the fisheries sector initiative will support 6.4 lakh micro-enterprises and 5,500 fisheries cooperatives.
- The scheme will gradually change from subsidies to performance-based incentives in fisheries.
- Promotion of Environment and Sustainability Initiatives.
- Facilitating Ease of Doing Business and Transparency.
- 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.
Major Components
- Component 1-A: Formalization of the fisheries sector and facilitating access of fisheries microenterprises to Government of India programs for working capital financing
- Gradually formalized by the creation of a registry of fish producers and other supporting actors.
- National Fisheries Digital Platform (NFDP) will be created and all the stakeholders will be mobilized to register on it.
- Encourage them to do so by providing financial incentives.
- It is also proposed to undertake activities such as training and extension support, improving financial literacy, facilitating project preparation and documentation through financial support.
- Component 1-B: Facilitating the adoption of aquaculture insurance
- Creation of appropriate insurance products.
- Cover at least 1 lakh hectares of aquaculture farms during the project period to provide the scale of operation.
- Offering a one-time incentive to farmers with farm sizes of 4 hectares or less who are willing to purchase insurance.
- The maximum incentive payable to a single farmer will be Rs.1,00,000.
- SC, ST and Women beneficiaries would be provided an additional incentive @ 10% of the incentive payable for General Categories.
- This will enable the insurance companies to come up with attractive insurance products in future.
- Component 2: Supporting microenterprises to improve fisheries sector value chain efficiencies
- To improve value chain efficiencies in the fishery sector through a system of performance grants with associated analytics and awareness campaigns.
- Proposed to incentivise microenterprises to reengage in production, creation and maintenance of jobs.
- The components give priority to women.
- Component 3: Adoption and expansion of fish and fishery product safety and quality assurance systems
- Proposed to incentivize fisheries micro and small enterprises to adopt safety and quality assurance systems.
- Expected to expand domestic market for fish through increased supply of safe fish and fishery products.
Criteria for Providing Performance Grants component 2 and 3
- Grant
- Performance Grant for a Microenterprise shall not exceed 25% of the total investment or, Rs.35 lakhs, whichever is lower, for General Category
- 35% of total investment or, Rs.45 lakhs, whichever is lower, for SC, ST and Women owned microenterprises.
- Size
- The maximum size of Performance Grant for a Small enterprise shall not exceed 25% of total investment or Rs.75 lakhs, whichever is lower, for General Category
- 35% of total investment or Rs.100 lakhs, whichever is lower, for SC, ST and women-owned small enterprises.
- Village Level Organizations
- The maximum size of Performance Grant for Village Level Organizations and Federations of SHGs, FFPOs and Cooperatives shall not exceed 35% of total investment or Rs.200 lakhs, whichever is lower.
- Number of jobs created and maintained
- Including jobs created and maintained for women.
- For each job created and maintained for a woman an amount of Rs.15,000 per year will be paid, similarly, for each job created and maintained for a man an amount of Rs.10,000 per year will be paid, subject to the limit of 50% of the total eligible grant.
Daily Current Affairs: Click Here