What is Pradhan Mantri Matsya Sampada Yojana?

Finance Minister, Nirmala Sitharaman on 5th July 2019 had announced to launch 'Matsya Sampada Yojana’ aimed to increase the fish and aquatic products through appropriate policy, marketing and infrastructure support. The CCE has approved renaming of SAMPADA which was Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters earlier, as Pradhan Mantri Kisan Sampada Yojana (PMKSY). It was approved by the CCEA in May 2017 for the period of 2016-20 coterminous with the 14th Finance Commission cycle.

PMMSY Objective

The objective of the scheme is to supplement or increase agriculture, modernize processing and decrease agricultural-waste and to utilize the potential in the fishery sector. The government proposed a Pradhan Mantri Matsya Sampada Yojana (PMMSY) to establish a robust fisheries management framework and check gaps in the value chain. Government has made it clear that 'Blue Revolution' or `Neeli Kranti’ and has the potential to attain the first place in the world in fish production. It includes MoFPI’s schemes such as Food Parks, Food Safety and Infrastructure.

PMMSY: Financial Allowance

It will have budget of Rs. 6000 and is expected to hold investment of Rs. 31,400 crore, handling of about 334 lakh MT agro-produce valuing Rs. 1 lakh 4 thousand 125 crore. Around 2 million farmers will have benefit from this Yojna and will generate about 5 lakh 30 thousand direct or indirect employment in the country in 2019-2020.

Significance of Pradhan Mantri Matsya Sampada Yojana

• This yojana will create modern infrastructure with efficient supply chain management from farm gate to retail outlet.

• It will increase growth of food processing sector in the country.

• It will increase GDP, Employment and investment.

• It will help in reducing huge wastage of agriculture products.

• It will help in providing better prices to farmers and double their of income.

PMMSY Funds

Last year, the Cabinet had set up Rs 7,522 crore special Fisheries and Aquaculture Infrastructure Development Fund (FIDF). This fund will be used for creation of fisheries infrastructure facilities both in marine and inland fisheries sectors. The government has set a target for fish production and that is to achieve the target of 15 million tonne by 2020 under the Blue Revolution, and raise it to about 20 million tonnes by 2022-23.

This is a big step taken by the government to double the income of farmers.