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Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana

Facts for Prelims (FFP)

 

Source: IE

 Context: The Indian Cabinet has approved the “Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY),” a central sector sub-scheme under the Pradhan Mantri Matsya Sampada aimed at formalizing the fisheries sector and supporting micro and small enterprises within it.

  

Key Highlights of the scheme:

FeatureDetails
InvestmentOver Rs 6,000 crore investment over the next four years (2023-24 to 2026-27) across all States and Union Territories.
National Fisheries Digital PlatformCreation of a platform to provide work-based identities to 40 lakh small and micro-enterprises.
Extension of FIDFExtension of Fisheries and Aquaculture Infrastructure Development Fund (FIDF) for another three years until 2025-26.
Bilateral MoUsApproval for the International Financial Services Centres Authority (IFSCA) to sign three Bilateral MoUs with financial regulatory bodies in Mauritius, Kuwait, and Bangladesh.
FundingFunding from public finance, including external financing from the World Bank and AFD, as well as private sector leverage.
Targeted StakeholdersTargets various stakeholders in the fisheries value chain, including fishers, fish farmers, fish workers, fish vendors, and micro and small enterprises.