Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)

10.02.2024

Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) , Daily Current Affairs , RACE IAS : Best IAS Coaching in Lucknow 

Why in the news?

Recently, the Union Cabinet approved the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY), a sub scheme under the Pradhan Mantri Matsya Sampada Yojana.

About Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana:

• It will be implemented as a Central Sector Sub-scheme under the Central Sector Component of the PMMSY.
• Funding: Implemented 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.
• Time period: It will be implemented for 4 years from FY 2023-24 to FY 2026-27 across all the States and UTs.

Intended Beneficiaries:

• Fishers, Fish (Aquaculture) Farmers, Fish workers, Fish Vendors or such other persons 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.

Aims and objectives:

• Gradual Formalization of the unorganized fisheries sector through self-registration of fishers, fish farmers and supportive workers under a National Fisheries Sector Digital Platform including creation of work based digital identifies of fish workers for improved service delivery.
• Facilitating access to institutional financing fisheries sector micro and small enterprises.
• Providing a one-time incentive to beneficiaries for purchasing aquaculture insurance.
• incentivizing 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.                                                               

                                                           Source:PIB