PM-MKSSY will beneficial for Fisheries and Aquaculture Sector people will get cheap loans and Jobs too

PM-MKSSY: The Cabinet Committee on Economic Affairs (CCEA) of the Central Government has approved the new scheme for the fisheries sector. Its name is Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY). This is a sub-central scheme of Rs 6000 crore under the Pradhan Mantri Matsya Sampada Yojana. Through the scheme, farmers doing aquatic farming as well as fishermen and fish farming laborers will be able to get cheap loans. The strengthening of the infrastructure of the sector will directly benefit the people.

Sub-scheme of Rs 6000 crore launched

The government has launched this scheme to formalize the unorganized fisheries sector and to provide institutional finance facilities to MSMEs in this sector. This Rs 6000 crore scheme will also help in promoting aquaculture insurance. By getting easy loans in the fisheries sector, the people working here will get financial help from the government.

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Know in simple words what benefits fishermen, fish farmers, fish workers will get from the scheme

  1. An investment of Rs 6000 crore will be made in the sector in the four years from financial year 2023-24 to financial year 20226-27.
  2. Budget support of Rs 939.48 crore will be extended for three years in addition to the already approved fund of Rs 7522.48 crore for Fisheries Infrastructure Development Fund (FIDF).
  3. This scheme will help in increasing fish production and sea food production.
  4. The scheme will create job opportunities for more than 9.40 lakh fishermen/people associated with fisheries and youth associated with this sector.
  5. This sub-scheme will create 1.70 lakh job opportunities in the sector.
  6. Out of 1.70 lakh jobs, focus will be on providing 75,000 jobs to women.
  7. Help will be provided in developing integrated value chain in micro and small enterprises, with the aim of creating additional 5.4 lakh employment opportunities.
  8. National Fisheries Digital Platform will be created for MSMEs which will provide work based recognition to 40 MSME firms.
  9. 6.4 lakh micro enterprises and 5500 fisheries co-operatives will also get financial support.
  10. Performance based incentives will be given along with subsidy in the sector so that focus can be given to better quality and increasing production.

(The information has been compiled based on various media reports)

What is the real plan of the government?

The Central Government plans to provide performance based incentives along with subsidies to 55,000 targeted MSMEs in the fisheries sector, so that people in this sector will be able to provide better quality seafood and this industry of India will be able to emerge as per world standards.

For the government’s plan to organize the hydro-farming sector, which is currently working in an unorganized manner, Rs 3000 crore will come from the World Bank along with AFD and public funding.

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