Cabinet nod to Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana with an investment of over Rs 6,000 cr

The Union Cabinet on Thursday approved the "Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)", a Central sector sub-scheme under the Pradhan Mantri Matsya Sampada for formalization of the fisheries sector and supporting fisheries micro and small enterprises with an investment of over Rs 6,000 crores over a period of the next four years from FY 2023-24 to FY 2026-27 in all States and Union Territories.

"The Sub-scheme will be implemented as a Central Sector Sub-scheme under the Central Sector Component of the PMMSY at an estimated outlay of Rs.6,000 crore consisting of 50% i.e. Rs.3,000 crore public finance including the World Bank and the AFD external financing, and rest 50% i.e.Rs.3,000 crore being the anticipated investment from the beneficiaries/private sector leverage. It will be implemented for 4 (four) years from FY 2023-24 to FY 2026-27 across all the States and UTs," the Centre said.

Intended Beneficiaries:

• Fishers, Fish (Aquaculture) Farmers, Fish workers, Fish Vendors or such other person directly engaged in fisheries value chain.

• Micro and Small enterprises in the form of Proprietary Firms, Partnership Firms and Companies registered in India, Societies, Limited Liability Partnerships (LLPs), Cooperatives, Federations, Village Level Organizations like Self Help Groups (SHGs), Fish Farmers Producer Organizations (FFPOs) and Startups engaged in fisheries and aquaculture value chains.

• FFPOs also include Farmers Producer Organizations (FPOs).

• Any other beneficiaries that may be included by the Department of Fisheries, Gol as targeted beneficiaries.