Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)

Overview

Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) is a Central Sector Sub-scheme under the umbrella Pradhan Mantri Matsya Sampada Yojana (PMMSY), approved by the Union Cabinet with an investment outlay of over Rs 6,000 crore for the period FY 2023-24 to FY 2026-27 across all States and Union Territories. Of the total outlay, Rs 3,000 crore is public finance (including World Bank and AFD, Agence Francaise de Developpement, external financing), and Rs 3,000 crore is anticipated private sector/beneficiary investment.

The scheme focuses on formalisation of the unorganised fisheries sector, creation of digital identities for fish workers, facilitation of institutional credit access, and a shift from conventional subsidies to performance-based incentives.

Key Objectives

1. Formalisation: Gradual formalisation of the unorganised fisheries sector through digital registration and work-based identity creation.
2. Institutional Credit: Facilitate access to institutional financing for fisheries micro and small enterprises.
3. Performance-Based Incentives: Shift from conventional subsidies to performance-based incentive models.
4. Value Chain Efficiency: Support micro and small enterprises in improving quality, traceability, and value addition.
5. Export Competitiveness: Enhance export competitiveness of Indian fisheries products through quality standards and traceability.
6. Insurance Coverage: Incentivise aquaculture insurance adoption through one-time premium support.

Major Components

1. National Fisheries Digital Platform (NFDP)

• Launched on September 11, 2024 by the Department of Fisheries.
• Provides work-based digital identities for 40 lakh small/micro enterprises in the fisheries sector.
• As of late 2024, over 12.64 lakh registrations completed on the NFDP portal.
• Aquaculture module is live, beneficiaries can apply for insurance incentives online.
• 262 lead insurance applications covering 710 hectares of farms submitted and forwarded to insurance companies.

2. Formalisation and Credit Access

• Creation of digital work-based identities for fishers, fish farmers, and fish workers.
• Enhanced institutional credit access for micro-enterprises and fisheries cooperatives.
• Support for 6.4 lakh micro-enterprises and 5,500 fisheries cooperatives.
• One-stop digital platform for service delivery.

3. Performance-Based Incentives

• Shift from input-based subsidies to outcome-linked performance incentives.
• Incentives tied to adoption of quality standards, traceability systems, and sustainable practices.
• One-time incentive for beneficiaries purchasing aquaculture insurance.

4. Value Chain and Export Competitiveness

• Support for micro and small enterprises in value addition, cold chain, processing, and packaging.
• Fisheries traceability systems to meet international export standards.
• Training and capacity building for fish workers and entrepreneurs.

Beneficiaries

• Fishers, fish farmers, fish workers, and fish vendors.
• Micro and Small Enterprises (MSEs) in fisheries value chain, proprietary firms, partnerships, companies.
• Fish Farmers Producer Organisations (FFPOs) and Fisheries Producer Organisations (FPOs).
• Cooperatives, federations, village-level organisations, and startups.

Employment Impact

• New Jobs: 1.7 lakh new employment opportunities (with emphasis on 75,000 women).
• Continued Employment: 5.4 lakh sustained employment opportunities in the fisheries sector.

Latest Developments

• September 11, 2024: National Fisheries Digital Platform (NFDP) launched under PM-MKSSY.
• 12.64 lakh+ registrations on the NFDP portal as of late 2024.
• Aquaculture insurance module live: 262 lead applications covering 710 hectares forwarded to insurance companies.
• World Bank and AFD co-financing: External financing component operationalised for public finance share.
• All States and UTs covered: Scheme implementation underway across the country with state-level coordination.

Prelims Importance

• PM-MKSSY is a Central Sector Sub-scheme under PMMSY (Pradhan Mantri Matsya Sampada Yojana).
• Total outlay: Rs 6,000 crore (50% public finance including World Bank and AFD; 50% private sector).
• Duration: FY 2023-24 to FY 2026-27.
• Key platform: National Fisheries Digital Platform (NFDP), launched September 11, 2024.
• NFDP target: 40 lakh digital identities for fisheries micro-enterprises.
• Employment target: 1.7 lakh new jobs (75,000 women); 5.4 lakh continued employment.
• AFD = Agence Francaise de Developpement (French Development Agency).
• Shift from conventional subsidies to performance-based incentives.
• Ministry: Ministry of Fisheries, Animal Husbandry and Dairying.

Mains & Interview Importance

GS3, Indian Economy: Food Processing; Animal Husbandry; Blue Economy

• Discuss the significance of PM-MKSSY in formalising India’s fisheries sector. How does digital identity creation help unorganised fish workers access institutional credit?
• Analyse the shift from subsidy-based to performance-based incentives in PM-MKSSY. What are the advantages and challenges of outcome-linked incentive models in the primary sector?
• Evaluate the role of NFDP as a digital public infrastructure for the fisheries sector. How can it improve traceability and export competitiveness?

GS3, Environment: Marine and Coastal Ecology

• Discuss the environmental sustainability aspects of PM-MKSSY. How can performance incentives promote sustainable fishing and aquaculture practices?

Interview Angle: “India is the third-largest fish producer globally but the fisheries sector remains largely unorganised. Can PM-MKSSY’s digital-first approach of identity creation and performance incentives truly formalise a sector with 40 lakh micro-enterprises, or will it face the same adoption challenges as other digital initiatives?”