PM Matsya Sampada Yojana: Earn Lakhs through Fish Farming; Get Government Subsidy

The central government aims to boost fish production to 220 lakh metric tons by 2024-25. To achieve this target, Government is coming up with different schemes and initiatives.

On the other hand, farmers in India are also showing interest in fisheries, animal husbandry and bee-keeping. Therefore, the central government is assisting farmers at different levels, so that their income can be increased.

The Central Government launched 'Pradhan Mantri Matsya Sampada Yojana' for growth and development of fisheries sector. 

Under this scheme, the government provides help in form of grants or subsidy to start fish farming business. For example if you are setting up a unit under this scheme, then you will receive 40 percent of the cost from the central government as an aid. Moreover, reserved categories such as SCs, STs and women beneficiaries can receive 60 per cent of the cost as grants. 

Target 2024-25: To Produce 220 Lakh Metric Tonnes

In 2019, the fish production in India was about 137.58 lakh metric tonnes. The Government plans to take it to a total of 220 lakh metric tonnes by 2024-25. Therefore, an investment of Rs 20,050 crore has been made by central government for the welfare of fishermen, fish farmers, fish workers, fish vendors. 

Plan to increase the potential of Fisheries Sector

• Boost fish production through new technological innovations and advanced fishing techniques.

• To enhance share of the fisheries sector in the export sector and also increase contribution of fisheries sector to GVA to 9%

• To ensure social, physical and economic security for fishermen and fish farmers. 

• Build a strong fisheries management and regulatory framework.

• Double the income of fishing community.

Reason to increase exports in the fisheries sector

Right now, Government of India is earning Rs 46,589 crore per annum from the export of fishes. But to achieve the target set up by government to boost fisheries sector by 2024-25, farmers of the country are being encouraged to take up fish farming as the center has set a target of earning profit of 1 Lakh crores from fish exports. Moreover, the purpose is to increase employment in the villages through this scheme.  

How to apply?

This scheme is being directed by the Central Government through the State Government. Those interested can take the benefits of this scheme by visiting the website of the Fisheries Department of his state. Moreover, if you are interested in more information about this scheme, then you can also visit the following link: pmmsy.dof.gov.in