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PM Matsya Sampada Yojana: Aim, Objectives, New Strategies and More Details

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PM Matsya Sampada Yojana

On September 10, 2020, the Pradhan Mantri Matsya Sampada Yojana (PMMSY) was inaugurated. Over a five-year timeframe, the scheme’s goal is to bring about a Blue Revolution through the sustainable development of the fisheries sector (2020-2025.) PMMSY was announced in the 2019-20 Union Budget.

PM Matsya Sampada Yojana: About

It is an Rs. 20050 crore covering the program for the development of the fishing industry. It consists of two parts:

Scheme for the Central Sector (CS)

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1. A scheme that is not centered on the beneficiaries.
2. Beneficiary-focused scheme (40 per cent Central Aid for General Category; 60 per cent for SC/ST/Women)

(Central Aid for the Northeast States – 90%, Other States – 60%, and UTs – 100%) Central Sponsored Scheme (CSS) – (Central Assistance for the Northeast States – 90%, Other Regions – 60%, and UTs – 100%)
1. A scheme that is not centred on the beneficiaries.
2. A scheme that is centred on the interests of the beneficiaries

PM Matsya Sampada Yojana’s Objectives

The PMMSY’s major goal is to grow the fishing industry and fish farming industries.

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Utilize the sector’s possibilities in a way that preserves, is accountable, accessible, and egalitarian.

Increased fish output and efficiency through efficient utilisation of freshwater resources.

Measures are necessary and post-harvest maintenance through modernising the value chain.

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Increase the revenue of fishermen and fish farmers by a factor of two.

Create new jobs in the fishing industry.

Increase the contribution of the fisheries sector to overall agriculture GVA and exports.

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Provide fishers and fishermen with social, financial, and real security.

Create a strong managerial and legal regime for fisheries.

PM Matsya Sampada Yojana’s New Strategy

Under the program, the administration has, for the first time, adopted a series of projects aimed at promoting the fishing sector:

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For the first time, the focus is on the genetic enhancement of industrially useful fish species and the establishment of a Core Breeding Center for Shrimp Hatchery self-sufficiency.
Development of incubation centres, marine ranches, fostering inventions, and entrepreneurial models in the field of the fisheries sector.
Blockchain, world standards, accreditation, and certification of breeding banks, egg production, and farmers are all being considered.
Communities of coastal fishermen — Fishing techniques villages will be established as part of PM Matsya Sampada Yojana’s strategy.

Subhashree Panda: A proficient content writer, editor, and researcher. With 4 years of experience and an MBA in finance, she crafts compelling narratives on global events. Her passion for diverse journalism genres resonates widely, fostering broad audience connections.

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