Imagine: A bustling fish market, vibrant with activity. Fisherfolk haul in their catch, women entrepreneurs run cold storage facilities, and young graduates manage thriving aquaculture businesses. This vision is closer to reality with the Indian government’s Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY), a new sub-scheme under the larger Pradhan Mantri Matsya Sampada Yojana.
Investing in the Future: This ambitious scheme, approved by the Union Cabinet, promises a ₹6,000 crore investment in the next four years to support micro and small enterprises (MSEs) in the fisheries sector. This includes 50% public funding and leveraging private investments.
More Than Just Money: PM-MKSSY goes beyond financial aid. It aims to:
- Formalize the fisheries sector: Bringing transparency and efficiency.
- Increase access to credit: Empowering fishers and entrepreneurs.
- Support 6.4 lakh micro-enterprises and 5,500 fisheries cooperatives.
- Create 1.7 lakh new jobs, with a focus on employing 75,000 women.
- Generate 5.4 lakh continued employment opportunities.
- Develop infrastructure: Extending the Fisheries and Aquaculture Infrastructure Development Fund (FIDF) for another three years.
This transformative scheme has the potential to:
- Boost fish production and exports.
- Improve the livelihoods of millions of fishers and their families.
- Empower women in the sector.
- Contribute to India’s economic growth.