With an investment of over Rs.20,000 crores in next five years
The Pradhan Mantri Matsya Sampada Yojana (PMMSY) aims to enhance fish production to 220 lakh metric tons by 2024-25 from 137.58 lakh metric tons in 2018-19 at an average annual growth rate of about 9%.
The Union Minister for Fisheries, Animal Husbandry and Dairying, Giriraj Singh, said the ambitious scheme will result in doubling export earnings to Rs.1,00,000 crore and generate about 55 lakhs direct and indirect employment opportunities in fisheries sector over a period of next five years.
Dedicating the PMMSY to fishers, fish farmers, fish workers, fish vendors and other stakeholders associated with the fisheries sector, Giriraj Singh said that insurance coverage for fishing vessels is being introduced for the first time.
Addressing a press conference on the “PMMSY – A scheme to bring about Blue Revolution through sustainable and responsible development of fisheries sector in India”, approved by the Union Cabinet chaired by the Prime Minister Narendra Modi on 20th May, 2020, Giriraj Singh said that the scheme envisages an estimated investment of Rs. 20,050 crores comprising Central share of Rs. 9,407 crore, State share of Rs 4,880 crore and Beneficiaries contribution of Rs. 5,763 crore. He added that the PMMSY will be implemented over a period of 5 years from FY 2020-21 to FY 2024-25 in all States/Union Territories.
Underlining the need to enhance domestic fish consumption with corresponding health benefits, the Minister said that the Government will register “Sagar Mitra” and encourage formation of Fish Farmers Producer Organizations (FFPOs) to help achieve the PMMSY goals. Youth will be engaged in fisheries extension by creation of 3477 Sagar Mitras in coastal fisher villages. Large number of Fisheries Extension Services Centers will be set up in private space to create job opportunities to young professionals.