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Context: The Union Cabinet approved the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (a sub scheme under the Pradhan Mantri Matsya Sampada Yojana) for the micro and small enterprises operating in the fisheries sector.
About PM Mastya Sampada Yojana
- Launched In: September 2020
- Aim: To double the income of fish farmers and fishers as part of sustainable fisheries sector development, aligning with the Atmanirbhar Bharat initiative.
- Focus: Employment-generating activities like seaweed and ornamental fish farming and focuses on advanced breeding techniques for improved brood, seed, and feed, alongside species diversification.
- Umbrella scheme: Central Sector Scheme (CS) and Centrally Sponsored Scheme (CSS).
- CSS subcomponents: Divided into non-beneficiary and beneficiary-oriented sub-components/activities under three primary categories:
- Enhancement of Production and Productivity,
- Infrastructure and Post-harvest Management, and
- Fisheries Management and Regulatory Framework.
- Duration: 5 years (FY 2020-21 to FY 2024-25).
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Aims and Objectives of PM-MKSSY
- Gradual Formalization of the unorganized fisheries sector: through self registration of fishers, fish farmers and supportive workers under a National Fisheries Sector Digital Platform.
- Facilitating access to institutional financing for fisheries sector micro and small enterprises.
- Providing a one-time incentive to beneficiaries for purchasing aquaculture insurance.
- lncentivizing fisheries and aquaculture microenterprises: through performance grants for improving fisheries sector value-chain efficiencies including creation and maintenance of jobs.
- Incentivising micro and small enterprises through : performance grants for adoption and expansion of fish and fishery product safety and quality assurance systems including creation and maintenance of jobs.