PM-MKSSY Aims for Fisheries Development

Summary of PM-MKSSY Scheme

Overview:

• The Prime Minister's Fisherman Prosperity Co-scheme (PM-MKSSY) is a sub-scheme under the Prime Minister's Fisheries Wealth Scheme (PMMSY), initiated by the Ministry of Fisheries, Animal Husbandry, and Dairying.
• Duration: FY 2023-24 to FY 2026-27.
• Estimated expenditure: ₹6,000 crore.

Key Features:

1. Digital Platform Launch:

   • Launch of the National Fisheries Digital Platform (NFDP) on September 11, 2024.

2. Formalization of Fisheries Sector:

   • Gradual formalization of the unorganized fisheries sector.
   • Introduction of work-based digital identity for fish workers for better service delivery.

3. Access to Finance:

   • Enhanced access to institutional finance for fish farmers, fishermen, and micro and small enterprises to reduce capital costs and expand operations.

4. Strengthening Cooperatives:

   • Empowerment of fisheries cooperatives through improved institutional capacity, market access, and financial support.

5. Insurance Incentives:

   • One-time incentive for purchasing aquatic agriculture insurance, covering 40% of paid premiums, with a maximum limit of ₹25,000 per hectare or ₹1 lakh for up to 4 hectares of water area.

6. Job Creation and Maintenance:

   • Grants to improve value-chain efficiency and to encourage micro and small enterprises in fisheries to create and maintain employment.
   • Performance grants for job creation include ₹10,000 for men and ₹15,000 for women per year.

7. Promotion of Sustainable Practices:

   • Incentives for projects that reduce carbon emissions, improve resource efficiency, and adopt climate-smart technologies.

8. Support for Quality and Safety:

   • Support for quality and sustainable fishing practices, food safety, and quality assurance in marine food exports to enhance global competitiveness.

9. Financial Grants:

   • Performance grants cover 25% of total investment for the general category and 35% for SC/ST/women-owned micro enterprises, capped at ₹35 lakh and ₹45 lakh respectively.
   • Community organizations and SHGs can receive up to 35% of total investment, capped at ₹200 lakh.

10. Employment Generation Target:

    • The scheme aims to create approximately 1.70 lakh jobs across states and Union Territories, including Andhra Pradesh.

Constitutional References:

• The scheme aligns with the Directive Principles of State Policy (DPSPs) in promoting the welfare of the people through sustainable development.

Implementation:

• The PM-MKSSY is a demand-driven scheme applicable across all states/UTs, with no specific district-wise or state-wise employment targets.

Conclusion:

• PM-MKSSY aims to bolster the fisheries sector through financial support, digital empowerment, and sustainable practices, contributing to economic growth and job creation in India.