The scheme will also help improve availability of certified quality fish seed and feed, traceability in fish and including effective aquatic health management.
The Cabinet on Wednesday approved the Rs 20,050-crore Pradhan Mantri Matsya Sampada Yojana (PMMSY) to bring about Blue Revolution through sustainable development of fisheries sector over next five years. The government also aims to double the income of fishers, fish farmers and fish workers by 2024 through the scheme.
“The PMMSY will address the critical gaps in the fisheries sector and realise its potential — augmenting fish production and productivity at a sustained average annual growth rate of about 9% to achieve a target of 22 million tonne by FY25 through sustainable and responsible fishing practices,” the government said in a statement.
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The scheme will also help improve availability of certified quality fish seed and feed, traceability in fish and including effective aquatic health management. Creation of critical infrastructure including modernisation and strengthening of value chain will also be a major focus under it.
The total investment will comprise of Centre’s share of Rs 9,407 crore, states’ share of Rs 4,880 crore and beneficiaries’ share of Rs 5,763 crore. The PMMSY will be implemented with two separate components — Central Sector Scheme (100% grant by Centre) and Centrally Sponsored Scheme (60:40 between Centre and State). Any project approved under the Centrally Sponsored Scheme, the beneficiary will have to invest 60% while the Centre and the state together will contribute 40% remaining costs. In case of SC/ST/woman beneficiary, the government’s grant will be 60%.
Source: Financial Express