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

The Central government has recently approved the “Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY). 

Highlights: 

• It is a sub scheme under the Pradhan Mantri Matsya Sampada Yojana, for the micro and small enterprises operating in the fisheries sector with an expected investment of ₹6,000 crore in the next four years. 

• The sub-scheme PM-MKSSY is with 50% public finance, including the World Bank and the Agence Française de Développement (AFD) external financing, and the rest 50% investment from the private sector leverage. 

• It will be implemented for four years from 2023-24 to 2026-27 across all the States and union territories. • Fishers, aquaculture farmers, fish workers and fish vendors are expected to benefit from the scheme. 

• It is aimed at gradual formalisation of the fisheries sector and enhanced access to institutional credit. 

• It will create 1.7 lakh new jobs, with a special emphasis on employing 75,000 women. 

• It will improve value chain efficiency and ensuring safe, quality fish by supporting 55,000 targeted micro and small enterprises.

• It will ensure environment friendly fisheries sector. 

• It will Facilitate Ease of Doing Business and transparency.