NEW DELHI: The cabinet, headed by prime minister Narendra Modi, on Wednesday gave post facto approval to implement the Pradhan Mantri Matsya Sampada Yojana (PMMSY) to bring about blue revolution through sustainable and responsible development of fisheries.
The total estimated investment for the scheme is ₹20,050 crore, comprising the central government's share of ₹9,407 crore, state's share of ₹4,880 crore and beneficiaries’ share of ₹5,763 crore, the government said in a statement.
The scheme will be implemented during FY 2020-21 to FY 2024-25 and comprises two components -- Central Sector Scheme and Centrally Sponsored Scheme.
The PMMSY was one of the programmes announced by finance minister Nirmala Sitharaman as part of the Modi government's ₹20 trillion stimulus package last week to restart the economy after a stringent lockdown was announced on 25 March. The lockdown was extended three times and is now set to end on 31 May.
The scheme aims to address the critical gaps in the fisheries sector, increase production and productivity at a sustained average annual growth rate of about 9% to achieve a target of 22 million metric ton by 2024-25 through sustainable and responsible fishing practices, the statement said.
PMMSY also aims to improve availability of certified quality fish seed and feed, create critical infrastructure including modernisation and strengthening of value chains, create direct gainful employment opportunities to about 15 lakh fishermen, fish farmers, fish workers, fish vendors and other rural and urban populations in fishing and allied activities and about thrice this number as indirect employment opportunities including enhancement of their incomes.
Besides this, boosting investments in fisheries, increasing the competitiveness of fish and fisheries products, doubling the incomes fishermen, fish farmers and workers are also some of the aims of the programme.