Boosting India's Blue Economy Initiative

Exam-Focused Notes on Prime Minister's Matsya Sampada Yojana (PMMSY)

Overview of PMMSY:

• Launched to enhance India's fisheries sector, focusing on sustainable growth and modernization.
• Significant financial commitment with ₹2,500 crore allocated in the budget for 2026-27.
• Aims to create employment opportunities and improve infrastructure in fisheries.

Key Achievements:

• Fish production increased from 14.164 million tons (2019-20) to 19.775 million tons (2024-25).
• Fish export value rose from ₹46,663 crore (2019-20) to ₹73,890 crore (2025-26).
• Generated employment for 5.8 million individuals in fisheries and aquaculture activities.

Financial Allocations and Projects:

• Total expenditure of ₹20,750 crore since its inception in 2020-21.
• ₹21,394.88 crore approved for fisheries and aquaculture projects from 2020-21 to 2025-26, including a central share of ₹9,510.89 crore.
• Approval for 12 integrated aquaparks with a cost of ₹713.80 crore.
• Support for 2,195 Fish Farmer Producer Organizations (FFPOs) with ₹544.86 crore for collective empowerment.

Government Schemes and Initiatives:

• Prime Minister Matsya Kisan Samriddhi Yojana (PM-MKSSY):

  • A sub-scheme under PMMSY, operational from 2023-24 to 2026-27 with an estimated budget of ₹6,000 crore.
  • Focus on financial stability, risk mitigation, and market integration for fishermen and aquaculture farmers.

• Digital Transformation:

  • Launch of the National Fisheries Digital Platform (NFDP) to enhance governance and service delivery in fisheries.
  • Over 37.23 lakh registrations on the platform by September 2026.

Infrastructure Development:

• Investment in cold-chain, transportation, and marketing facilities.
• Approval for the development of 28 fishing ports, 25 landing centers, and 23 dredging projects with an investment of ₹3,741.89 crore.

Environmental and Technological Focus:

• Adoption of sustainable practices like bio-floc and Recirculating Aquaculture Systems (RAS) to enhance productivity and environmental sustainability.
• Identification of 100 climate-resilient coastal fishing villages for infrastructure and livelihood support.

Impact on Livelihoods:

• PMMSY significantly contributes to food security, job creation, and export enhancement, reinforcing the fisheries sector as a vital part of India’s economy.
• The initiative is aligned with Sustainable Development Goal (SDG) 14 regarding life below water, promoting responsible fishing and sustainable resource use.

Conclusion:

• PMMSY is pivotal for modernizing the fisheries sector, ensuring sustainable practices, and supporting the livelihoods of millions in coastal communities.
• Continuous investment and strategic initiatives under PMMSY are crucial for the long-term growth and sustainability of India's blue economy.