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

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

Subject: Polity

Section: Judiciary

Context:

• The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the “Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)”, a Central Sector Sub-scheme under the Pradhan Mantri Matsya Sampada Yojna.

More on news:

• PM-MKSSY is a Central Sector Sub-scheme under the Pradhan Mantri Matsya Sampada for formalization of the fisheries sector and supporting fisheries micro and small enterprises.
• It comprises an investment of over Rs. 6,000 crores over a period of next four (4) years from FY 2023-24 to FY 2026-27 in all States/Union Territories.

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 including creation of work based digital identities 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.

Expenditure involved

• The Sub-scheme will be implemented as a Central Sector Sub-scheme under the Central Sector Component of the PMMSY 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.
• It will be implemented for 4 (four) 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.

Implementation strategy:

The Sub-scheme has the following major components:

Component 1-A:

Formalization of fisheries sector and facilitating access of fisheries microenterprises to Government of India programs for working capital financing:

• For this purpose, a National Fisheries Digital Platform (NFDP) will be created and all the stakeholders will be mobilized to register on it.
• They will be encouraged to do so through providing financial incentives.
• The NFDP will serve multiple functions including disbursement of financial incentives.

Component 1-B:

Facilitating adoption of aquaculture insurance:

• It is proposed to facilitate creation of appropriate insurance products and to cover at least 1 lakh hectare of aquaculture farms during the project period to provide the scale of operation.
• Further, it is proposed to provide one time incentive to the willing farmers against purchase of insurance with a farm size of 4 hectares of water spread area and less.

Component 2:

Supporting microenterprises to improve fisheries sector value chain efficiencies:

• This component seeks to improve value chain efficiencies in the fishery sector through a system of performance grants with associated analytics and awareness campaigns.

Component 3:

Adoption and expansion of fish and fishery product safety and quality assurance systems:

• It is proposed to incentivize fisheries micro and small enterprises to adopt safety and quality assurance systems in marketing of fish and fishery products through provision of performance grants against a set of measurable parameters.

Performance Grant disbursement criteria for components 2 and 3

• Number of jobs created and maintained; including jobs created and maintained for women.
• For each job created and maintained for a woman an amount of Rs.15,000 per year will be paid.
• Similarly, for each job created and maintained for a man an amount of Rs.10,000 per year will be paid, subject to the limit of 50% of total eligible grant.

Component 4: Project management, monitoring and reporting:

• Under this component, it is proposed to set up Project Management Units (PMUs) to manage, implement, monitor and evaluate project activities.