Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) aims to support micro and small enterprises in the fisheries sector.
About Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY):
- It is a sub-scheme under the Pradhan Mantri Matsya Sampada Yojana launched in 2020.
- PM-MKSSY was launched for the fisheries sector and supports fisheries micro and small enterprises.
- It is aimed at gradual formalisation of fisheries sector and enhanced access to institutional credit.
- The scheme would also facilitate growth of businesses, job creation and business opportunities.
- The central government will invest ₹6,000 crore for 4 years and is expected to generate over 1.5 lakh direct and indirect jobs.
- The scheme will be implemented for four years from 2023-24 to 2026-27 across all the States and union territories.
- It will draw investment of 50% public finance from World Bank and the Agence Française de Développement (AFD) external financing, and rest 50% from the private sector leverage.
- Moreover, the Fisheries and Aquaculture Infrastructure Development Fund (FIDF) was extended up to 2025-26.
- About 121 fisheries infrastructure projects with an investment cost of ₹5,588.63 crore have been approved under the FIDF for fisheries infrastructures.
Expected Benefits of the Scheme:
- Fishers, aquaculture farmers, fish workers and fish vendors are expected to benefit from the scheme.
- The initiative will support 6.4 lakh micro-enterprises and 5,500 fisheries cooperatives, providing access to institutional credit.
- It is projected to create 1.7 lakh new jobs, 75,000 of them will be women.
- This could generate 5.4 lakh continued employment opportunities in the micro and small enterprises value chain.
- The extension of FIDF would intensify the development of infrastructure such as fishing harbours, fish landing centres, ice plants, cold storage and fish transport facilities.
- It would further leverage the financial resources and encourage more investments for fisheries and aquaculture infrastructure, both from the public and private sectors.
Ref: Source
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