As India charges forward on its mission to embrace the ‘Blue Revolution,’ we cast the spotlight on the Pradhan Mantri Matsya Sampada Yojana (PMMSY) – a game-changing initiative that’s making waves in the country’s fisheries sector. This sweeping scheme, backed by the Department of Fisheries and the Ministry of Fisheries, Animal Husbandry, and Dairying, is expected to redefine the landscape of fisheries in India.
Objective: Blueprints for a Sustainable Future
PMMSY’s objectives are nothing short of ambitious. They envision a future where the fisheries sector contributes meaningfully to the nation’s economy, creates vast employment opportunities, and ensures a secure and prosperous livelihood for fishers. The mission aims to stimulate fish production and productivity, modernize post-harvest management, boost the fisheries’ contribution to the Agricultural Gross Value Added (GVA) and exports, and provide economic security for fishers and fish farmers, all within a solid regulatory framework.
Targets: Setting Sights on High Returns
The PMMSY has set some lofty targets to achieve by 2024-25, including a significant increase in fish production and aquaculture productivity, and a surge in domestic fish consumption per capita. The scheme seeks to increase the fisheries sector’s contribution to the Agricultural GVA and double its export earnings. Additionally, the PMMSY aims to cut post-harvest losses dramatically and generate 55 lakh direct and indirect job opportunities along the value chain.
Investment: Fuelling the Future with Funds
An impressive investment of ₹20,050 crores has been allocated for a comprehensive development of the fisheries sector, covering all the States and Union Territories. A new sub-scheme was also unveiled in the Union Budget 2023-24, investing a further Rs.6,000 crores to improve the operations of fish vendors, fishermen, and small-scale enterprises, thus boosting market expansion and value chain efficiencies.
Benefits: Ensuring a Prosperous Livelihood for All
The scheme offers an array of financial assistance programmes for the fisheries community, encouraging entrepreneurial spirit and ensuring economic stability. From developing fishing infrastructure and managing fishery resources scientifically to providing credit-linked subsidies to fish farmers and facilitating export of fish products, the PMMSY is set to revolutionise the sector.
The PMMSY isn’t just a scheme – it’s a strategic blueprint that puts India’s fisheries sector on the fast track to a sustainable and prosperous future. Its effects will be far-reaching, providing the nation with a more robust and resilient fisheries industry and offering a better life for those who depend on it.
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