Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)

Why in News?

The Department of Fisheries recently organized a meeting to discuss the implementation of the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY), a sub-scheme of the Pradhan Mantri Matsya Sampada Yojana (PMMSY), launched in February 2024.

Key Facts About the Fisheries Sector in India

Economic Importance:

India is the 3rd largest fish-producing country globally and the 4th largest exporter of fish and fisheries products.
Fisheries exports grew by 26.73% in FY 2022-23 for marine products.

Livelihood and Employment:

The sector supports over 28 million people and plays a crucial role in food security, rural development, and economic growth.

Government Support:

Key initiatives include the Blue Revolution, Fisheries and Aquaculture Infrastructure Development Fund (FIDF), and PMMSY.

Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)

1. About the Scheme:

o A Central Sector Sub-Scheme under PMMSY, launched for four years (2023-24 to 2026-27).

o Aims to modernize and formalize the unorganized fisheries sector.

2. Objectives:

o Digital Identity Creation:

§ Build work-based digital identities for fish farmers on the National Fisheries Digital Platform (NFDP) to enhance service delivery.

o Access to Institutional Finance:

§ Enable fish farmers and small enterprises to obtain institutional finance for sustainable development.

o Insurance for Aquaculture:

§ Promote insurance coverage to mitigate risks and ensure quality through traceability in supply chains.

o Empowering Fish Farmers:

§ Facilitate access to financial resources, improving livelihood opportunities and sustainability.

Pradhan Mantri Matsya Sampada Yojana (PMMSY)

1. About the Scheme:

o Launched in 2020 to promote a Blue Revolution in India’s fisheries sector through sustainable and responsible development.

o Implementation: All States and Union Territories (2020-25).

2. Key Objectives:

o Addressing gaps in fish production, productivity, and post-harvest infrastructure.

o Ensuring socio-economic welfare of fishers and modernization of the fisheries value chain.

3. Targets by 2024-25:

o Fish Production:

§ Increase from 13.75 million metric tons (2018-19) to 22 million metric tons.

o Aquaculture Productivity:

§ Enhance productivity from 3 tons per hectare to 5 tons per hectare.

o Per Capita Fish Consumption:

§ Increase from 5 kg to 12 kg.

o Economic Value:

§ Doubling fisheries export earnings to ₹1,00,000 crore.

§ Reducing post-harvest losses from 20-25% to 10%.

o Employment and Income:

§ Create 55 lakh employment opportunities.

§ Double the incomes of fishers and fish farmers.

Significance of PM-MKSSY and PMMSY

1. Economic Growth:

o By boosting fish production and exports, the schemes aim to contribute to agriculture Gross Value Added (GVA), targeted at 9% by 2024-25.

2. Rural Development:

o Fisheries and aquaculture provide livelihood opportunities for marginalized and rural communities, particularly along India’s coasts and inland water systems.

3. Food Security:

o Increasing fish production ensures a sustainable protein source for India’s growing population.

4. Climate Resilience:

o Modernizing the fisheries sector through digital platforms and insurance helps build resilience against climate-induced risks.

5. Entrepreneurship and Private Investment:

o Promoting private sector investment fosters entrepreneurship and innovation in the fisheries sector.

Challenges

1. Infrastructure Gaps:

o Need for improved cold chain facilities, storage, and transport to reduce post-harvest losses.

2. Finance Access:

o Many small-scale fishers still lack access to institutional finance and insurance coverage.

3. Implementation Barriers:

o Limited awareness and adoption of digital platforms among unorganized fishers.

4. Environmental Concerns:

o Overfishing and climate change pose risks to sustainable fish production.

Conclusion

The Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) and PMMSY are transformative schemes aimed at formalizing and modernizing India’s fisheries sector. With ambitious targets for fish production, exports, and employment generation, the schemes address key socio-economic challenges. However, addressing infrastructure gaps and ensuring effective implementation will be crucial for realizing the full potential of these initiatives.

Way Forward

1. Digital Literacy:

o Enhance awareness and training for fishers to adopt digital platforms.

2. Infrastructure Investment:

o Build cold storage and processing facilities to minimize post-harvest losses.

3. Sustainability Measures:

o Promote eco-friendly aquaculture practices to protect marine ecosystems.

4. Policy Monitoring:

o Regularly evaluate the schemes’ progress to ensure targets are met and identify areas for improvement.

These efforts will ensure the sustainable growth of the fisheries sector, creating livelihoods and supporting India’s economic growth.

MCQs

Q1. Which of the following is the objective of the Pradhan Mantri Matsya Sampada Yojana (PMMSY)?

1. Increasing fish production to 22 million metric tons by 2024-25.

2. Enhancing aquaculture productivity to 5 tons per hectare.

3. Doubling the incomes of fishers and fish farmers.

4. Reducing post-harvest losses from 20-25% to about 5%.

Select the correct answer using the codes below:

(a) 1, 2, and 3 only
(b) 1 and 3 only
(c) 2 and 4 only
(d) 1, 2, 3, and 4

Answer: (a) 1, 2, and 3 only
Explanation: PMMSY aims to reduce post-harvest losses to 10%, not 5%.

Q2. Consider the following statements regarding the fisheries sector in India:

1. India is the largest fish-producing country in the world.

2. The fisheries sector contributes significantly to India’s Gross Value Added (GVA).

3. The sector provides livelihoods to over 50 million people.

Which of the statements given above is/are correct?

(a) 1 only
(b) 2 and 3 only
(c) 2 only
(d) 1, 2, and 3

Answer: (c) 2 only
Explanation: India is the 3rd largest fish-producing country globally. The sector provides livelihoods to 28 million people, not 50 million.

Q3. Which of the following is a key feature of the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)?

1. Creation of digital identities for fishers under the National Fisheries Digital Platform (NFDP).

2. Facilitating insurance adoption for aquaculture.

3. Reducing climate-related risks for crop farmers.

Select the correct answer: