PMMSY A Boost For Fisheries Sector

PMMSY: A Boost For Fisheries Sector 

Fisheries Sector Of India

The fabric of an economy is made with different threads. All these threads contribute their parts to the economy. There are numerous small and big sectors in our country that perform their best to make up a successful economy. Out of these, Fisheries is one of the most promising sectors of the Indian economy.

It has seen major developments over the years and now stands as a significant sector with a contribution of around 1.07 % to the total GDP. This sunrise sector of India is the source of livelihood for more than 16 Million of the Indian population. It mainly comprises marine fisheries and inland fisheries. The Blue Revolution of this sector aims to achieve an increase in fisheries production, and a rise in aquaculture and fisheries resources.

To promote and support this sector, the government has launched PMMSY Scheme. This scheme is all about catalysing the growth and development of the fisheries sector of India. Let’s get to know more about PMMSY.

What is PMMSY?

What is PMMSY

PMMSY full form – Pradhan Mantri Matsya Sampada Yojana is a scheme that aims to bring in the Blue Revolution with sustainable & responsible development. This scheme has been approved by the Union Cabinet which was chaired by Prime Minister Shri Narendra Modi. It broadly has two components – Central Sector Scheme (CS) and Centrally Sponsored Scheme (CSS). The total estimated investment of PMMSY is INR 20,050 Crore. The Pradhan Mantri Matsya Sampada Yojana will be implemented during a period of five years (2020-21 to 2024-25).

PMMSY is implemented by the Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying, Government of India. The broader objective of this scheme is to address the gaps in the fisheries value chain by modernising and strengthening it.

Objectives Of PMMSY

The Goals of PMMSY Yojana are divided into three parts – Fish Production & Productivity, Economic Value Addition, Income Enhancement & Employment Generation. The main objective of the scheme is the development of the fisheries and aquaculture sectors.

  • Promote the potential of the fisheries sector with sustainable, responsible, and equitable practices.
  • Increase fish production and its productive capacity through various measures of expansion, intensification, diversification, and productive utilisation of the land and water resources.
  • Modernisation and strengthening of the value chain.
  • Increase the income of the fishers and fish farmers by generating meaningful employment.
  • Boost the fisheries sector’s contribution to Agricultural GVA & exports
  • Making sure of the availability of social, physical, and economic security for fishers and fishing farmers.
  • Strengthening of the fisheries management and regulatory framework.

Benefits of PMMSY

The Pradhan Mantri Matsya Sampada Yojana Registration is beneficial to the targeted sector in numerous ways:

  • The critical gaps in the fisheries sector are getting addressed and worked upon.
  • Enhancing fishing production rate and productivity of all the relevant resources in a
  • sustainable & responsible manner.
  • Making certified quality fish seed and feed accessible.
  • Implementing effective aquatic health management.
  • Betterment of infrastructure – modernisation & strengthening of the value chain.
  • Meaningful direct employment generation and indirect employment opportunities.
  • Making the fisheries sector efficient for competition and raising more investments.
  • Increase in the income of fish farmers and fish workers
  • Ensure social, physical, and economic security for fishermen and fishing farmers.

Eligibility For PMMSY

Eligibility For PMMSY

There are certain criteria for the applicant to be eligible for the PMMSY Subsidy as per the guidelines of the Pradhan Mantri Matsya Sampada Yojana Scheme.

  • Fishers
  • Fish Farmers
  • Fish Vendor and Worker
  • Development Corporation of Fisheries
  • SHG/ JLG in the fisheries sector
  • Fisheries federation
  • Fisheries cooperatives
  • Entrepreneurs and private firm
  • FFPO (Fish Farmers Producer Organisation or Companies)
  • Scheduled Caste/ Scheduled Tribe/ Women/ Differently abled people
  • State Government/ UTC
  • State Fisheries Development Board (SFDB)
  • The Central government and their entities

Want To Apply?

Do you want to avail the PMMSY subsidy? Then begin with the procedure of filling up the PMMSY application form. If you were wondering how to apply for PMMSY Scheme online then let us tell you that it is a systematic procedure for the application that one needs to follow. Moreover, a set of necessary documents is required for the application process.

Looking for help to complete this time-consuming task? Then get in touch with Egniol Services. We provide the best consultancy and assistance services for startups and businesses. Our team of experts provides end-to-end service to avail government grants and funding schemes for your business. Begin your Pradhan Mantri Matsya Sampada Yojana Application Form filling procedure with Egniol Services today.

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