June 29, 2020
The PMMSY will be implemented as an umbrella scheme with two separate Components namely (a) Central Sector Scheme (CS) and (b) Centrally Sponsored Scheme (CSS)
The GVA of the fisheries sector in the economy during FY 2018-19 stood at Rs.2.1 trillion which constituted 1.24% of the total National GVA and 7.28% share of Agricultural GVA
The scheme comes as part of the Indian Government’s efforts to drive self-reliance in different sectors of the economy, following a Rs.21-trillion COVID-19 stimulus package
The PMMSY scheme aims to enhance India’s fish production from 13.8 million tonnes in 2018-19 to 22 million tonnes by 2024-25 at an average annual growth of about 9%
The Government of India has approved a scheme to boost the potential of the country’s fisheries sector, a move that is expected to create strong economic value apart from driving new job creation, technology, and infrastructure development. The Pradhan Mantri Matsya Sampada Yojana (PMMSY) scheme aims to bring about a “Blue Revolution” through sustainable development of the fisheries sector in India. The scheme has been allocated the highest ever investment of over Rs.200 billion (US$2.7 billion) for the fisheries sector. PMMSY will be implemented over a period of five years from FY 2020-21 to 2024-25 in all States and Union Territories. The scheme comes as part of the Indian Government’s efforts to drive self-reliance in the economy. The Central Government had also recently introduced an Rs.21-trillion stimulus package to aid socio-economic recovery amid the COVID-19 pandemic.
Fisheries and aquaculture provide livelihoods to more than 20 million at the primary level and twice the number along the value chain. Meanwhile, fish being an affordable and rich source of animal protein is one of the healthiest options to mitigate hunger and malnutrition. The GVA of the fisheries sector in the national economy during FY 2018-19 stood at Rs.2.1 trillion which constituted 1.24 per cent of the total National GVA and 7.28 per cent share of Agricultural GVA. India’s fisheries sector has shown impressive growth with an average annual growth rate of 10.88 per cent from FY 2014-15 to FY 2018-19. The fish production in India has registered an average annual growth of 7.53 per cent during the last five years and stood at an all-time high of 13.8 million tonnes during 2018-19. The export of marine products stood at 1.4 million tonnes and valued at Rs.465.9 billion during 2018-19.
The objectives of PMMSY:
The sector has immense potential to double the fishers and fish farmers’ incomes as envisioned by the Government and usher in prosperity for a range of associated industries. The scheme intends to address gaps in fish output and productivity, quality, technology, post-harvest infrastructure and management, modernization and strengthening of the value chain, and traceability. It seeks to establish a robust fisheries management framework to ensure fishermen’s welfare. PMMSY would also address issues related to low productivity in inland aquaculture, disease, sustainability of marine fisheries, sanitary, and phytosanitary matters that impact the competitiveness of India’s exports along with global benchmarking. PMMSY will impact fishermen, fish farmers, workers and traders, fisheries cooperatives, self-help groups, and individual entrepreneurs. It will also boost export and investment opportunities.
Activities under PMMSY:
The PMMSY scheme aims to enhance India’s annual fish production from 13.8 million tonnes in 2018-19 to 22 million tonnes by 2024-25 at a sustained average annual growth of about 9 per cent. Meanwhile, the scheme is looking to increase the contribution of GVA of the fisheries sector to the Agriculture GVA from 7.28 per cent in 2018-19 to about 9 per cent by 2024-25. This is also expected to double export earnings from Rs.465.9 billion in 2018-19 to about Rs.1 trillion by 2024-25. The scheme looks to enhance productivity in aquaculture from the present national average of 3 tonnes to about 5 tonnes per hectare while reducing post-harvest losses from the reported 20-25 per cent to about 10 per cent. Domestic fish consumption is also expected to rise from 5-6 kg to about 12 kg per capita. The rise in activities will create around 5.5 million direct and indirect job opportunities along the supply and value chain.