Pradhan Mantri Matsya Sampada Yojana (PMMSY) launched

Pradhan Mantri Matsya Sampada Yojana (PMMSY) launched

Part of: GS Prelims and GS-II – Policies and Interventions & GS-III- Fisheries

In news

• Pradhan Mantri Matsya Sampada Yojana scheme was launched to bring about Blue Revolution through sustainable and responsible development of fisheries sector in India was recently launched.
• This scheme was first announced in Budget 2019-20 and then in Aatma Nirbhar Bharat. 

• The PMMSY is an umbrella scheme with two separate Components: (a) Central Sector Scheme (CS) and (b) Centrally Sponsored Scheme (CSS). 

Key takeaways

• Total estimated investment will be of Rs. 20,050 crores to be implemented over a period of 5 years from FY 2020-21 to FY 2024-25. 
• Goal: To double the fish exports in the next 3 to 4 years i.e. by 2024-25.
• Objective: (1) To address critical gaps in fish production and productivity; quality, technology, post-harvest infrastructure and management, modernisation and strengthening of value chain, traceability, establishing a robust fisheries management framework and fishers’ welfare; (2) Harnessing of fisheries potential in a sustainable, responsible, inclusive and equitable manner; (3) enhancing contribution to Agriculture GVA and exports; (4) Social, physical and economic security for fishers and fish farmers; (5) Robust fisheries management and regulatory framework

Do you know?

Fisheries constitute 1.24% of National GDP and 7.28% of Agriculture GDP.