India is one of the largest fish-producing countries in the world, and the fisheries sector provides livelihoods to millions of people. To strengthen this sector and support fish farmers, the Government of India launched the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY). This scheme is a sub-scheme under the Pradhan Mantri Matsya Sampada Yojana (PMMSY) and aims to formalize the fisheries sector and provide financial and technological support to micro and small enterprises engaged in fisheries and aquaculture. In this blog, we have provided all the details about the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY).
What is Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)?
The PM-MKSSY is a Central Sector Sub-scheme launched in February 2024 for a period of four years (FY 2023-24 to FY 2026-27). It is managed by the Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying. The scheme focuses on:
- Formalizing the unorganized fisheries sector through digital identities on the National Fisheries Digital Platform (NFDP).
- Facilitating access to institutional finance for fish farmers and fisheries microenterprises.
- Providing insurance incentives for aquaculture to reduce risks.
- Offering performance grants for improving value-chain efficiency and maintaining jobs.
- Strengthening fisheries cooperatives for better governance and productivity.
Overview of PM-MKSSY
The details of the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) are as follows:
| Feature | Details |
| Scheme Name | Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) |
| Launch Date | February 2024 |
| Launched By | Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying |
| Parent Scheme | Pradhan Mantri Matsya Sampada Yojana (PMMSY) |
| Duration | FY 2023-24 to FY 2026-27 |
| Objectives | Formalization of fisheries, access to finance, insurance, performance grants, strengthen cooperatives |
| Beneficiaries | Fishers, fish farmers, micro and small enterprises, SC/ST/Women |
| Implementation | Through NFDP, PMUs, Credit Intermediaries |
| Grants/Financial Assistance | Small grants linked to activity and scale; DBT transfer to bank accounts |
| Complementary Fund | Fisheries Infrastructure Development Fund (FIDF) |
| Funding | ₹6,000 crore; public sources, World Bank, AFD, beneficiary contributions |
Why was PM-MKSSY launched?
The fisheries sector, often called a “Sunrise Sector”, is critical for India’s food security, employment, and economic growth. Despite its potential, challenges like informal operations, limited access to credit, weak safety standards, and low adoption of technology existed. PM-MKSSY was introduced to:
- Formalize stakeholders digitally via NFDP.
- Enable fish farmers and microenterprises to access institutional credit.
- Promote adoption of aquaculture insurance.
- Enhance productivity, income, and employment opportunities in fisheries.
- Encourage cooperatives to function efficiently and support members.
Who are the beneficiaries of PM-MKSSY?
The scheme benefits:
- Fishers and fish farmers (aquaculture).
- Workers in the fisheries value chain, vendors, and small entrepreneurs.
- Micro and small enterprises, including proprietary firms, cooperatives, partnerships, startups, and Fish FPOs (FFPOs).
- Special incentives are given to SC, ST, and women beneficiaries.
How is PM-MKSSY implemented?
The implementation is divided into four components:
| Components | Details |
| 1-A: Formalization of Fisheries Sector | – Digital registration of fishers and fish farmers on NFDP – Capacity building, financial literacy, and project assistance |
| 1-B: Adoption of Aquaculture Insurance | – Insurance coverage for at least 1 lakh hectares – Incentives up to Rs. 1,00,000 per farmer – 40% incentive for intensive aquaculture methods – Additional 10% incentive for SC/ST and women beneficiaries |
| 2: Supporting Microenterprises | – Performance grants to improve value chain efficiencies – Grant limits: General – 25% of investment or Rs. 35 lakh; SC/ST/Women – 35% of investment or Rs. 45 lakh |
| 3: Fish and Fishery Product Safety and Quality Assurance | – Grants to adopt safety and quality standards – Small enterprises: 25% of investment or Rs. 75 lakh (General); 35% or Rs. 100 lakh (SC/ST/Women) |
| 4: Project Management and Monitoring | – Establishment of Project Management Units (PMUs) for monitoring, evaluation, and reporting |
How is PM-MKSSY funded?
The details of the funds for the PMMKSSY are as follows:
- Total outlay: ₹6,000 crore over four years (FY 2023-24 to FY 2026-27).
- Funding sources: Government of India, World Bank, Agence Française de Développement (AFD), and contributions from beneficiaries or the private sector.
- Grants, incentives, and insurance support are funded through public sources and disbursed via Direct Benefit Transfer (DBT).
What is the Fisheries Infrastructure Development Fund (FIDF)?
FIDF is a complementary fund to support fisheries infrastructure:
- Managed by the Department of Fisheries.
- Provides concessional finance to state governments, cooperatives, NGOs, women entrepreneurs, and private companies.
- Interest subvention of up to 3% per year, repayment over 12 years with 2-year moratorium.
- Supports building storage, processing, and marketing facilities in marine and inland fisheries.
How has the fisheries sector grown in India?
In 2022-23, India produced a total of 174 lakh tonnes of fish, making it the third largest fish-producing country in the world. The growth in coastal aquaculture, especially shrimp production, has been significant over recent years. The fisheries sector provides livelihoods to around 63 lakh fishers and fish farmers, supporting both rural employment and economic growth.
Additionally, the Group Accident Insurance Scheme for fishers was strengthened, increasing coverage from Rs. 1 lakh to Rs. 5 lakh, ensuring better social security. To further support financial inclusion, Kisan Credit Cards were extended to fisheries, benefiting 1.8 lakh cardholders and helping them access institutional credit for their activities.
Questions Asked Based on PMMKSSY
- When was PM-MKSSY approved by the government?
(a) 2020
(b) 2022
(c) 2024
(d) 2023 - Which ministry manages PM-MKSSY?
(a) Ministry of Agriculture
(b) Ministry of Fisheries, Animal Husbandry & Dairying
(c) Ministry of Rural Development
(d) Ministry of Finance - PM-MKSSY is a sub-scheme of which scheme?
(a) Kisan Credit Card
(b) PMMSY
(c) PMJDY
(d) PMAY - What is the main objective of PM-MKSSY?
(a) Improve crop yields
(b) Formalize fisheries sector & facilitate finance
(c) Promote organic farming
(d) Develop irrigation systems - Which digital platform is used for stakeholder registration?
(a) PM-KISAN Portal
(b) NFDP
(c) DigiLocker
(d) FishNet - Who are primary beneficiaries of PM-MKSSY?
(a) Farmers of wheat
(b) Fishers, fish farmers, micro and small enterprises
(c) Dairy farmers
(d) Horticulture farmers - What kind of financial assistance is provided under PM-MKSSY?
(a) Loans only
(b) Grants linked to activities
(c) Tax rebate
(d) Pension - Which component focuses on aquaculture insurance?
(a) Component 1-A
(b) Component 1-B
(c) Component 2
(d) Component 3 - What is the maximum insurance incentive per farmer?
(a) Rs. 50,000
(b) Rs. 1,00,000
(c) Rs. 75,000
(d) Rs. 2,00,000 - Which group gets additional 10% incentive under insurance?
(a) SC/ST and women
(b) General category
(c) Small enterprises
(d) Fisher cooperatives
- What is the purpose of NFDP?
(a) Monitor fish exports
(b) Formalize unorganized fisheries and assist stakeholders
(c) Provide fertilizer subsidies
(d) Provide fishing licenses - Which component supports microenterprises to improve value chain?
(a) Component 1-A
(b) Component 2
(c) Component 3
(d) Component 4 - Grants for SC/ST/Women-owned microenterprises are capped at?
(a) 25%
(b) 35%
(c) 45%
(d) 50% - Which fund complements PM-MKSSY for infrastructure?
(a) FIDF
(b) NABARD Fund
(c) KCC Fund
(d) PMAY Fund - Who provides concessional finance under FIDF?
(a) NLEs like NABARD, NCDC & scheduled banks
(b) Ministry of Finance
(c) Private investors
(d) NFDP - What is the repayment period under FIDF concessional finance?
(a) 5 years
(b) 12 years
(c) 7 years
(d) 10 years - How much fish production did India achieve in 2022-23?
(a) 100 lakh tonnes
(b) 174 lakh tonnes
(c) 200 lakh tonnes
(d) 150 lakh tonnes - PM-MKSSY is implemented for how many years?
(a) 3 years
(b) 4 years
(c) 5 years
(d) 6 years - Which mechanism ensures direct transfer of grants?
(a) Cheque payment
(b) Direct Benefit Transfer (DBT)
(c) Cash payment
(d) Post Office Transfer - Which group of beneficiaries can include Fish FPOs (FFPOs)?
(a) Only individual fishers
(b) Micro and small enterprises
(c) Only women entrepreneurs
(d) Only cooperatives
Answer Key
| Q1 | Q2 | Q3 | Q4 | Q5 |
| c | b | b | b | b |
| Q6 | Q7 | Q8 | Q9 | Q10 |
| b | b | b | b | a |
| Q11 | Q12 | Q13 | Q14 | Q15 |
| b | b | b | a | a |
| Q16 | Q17 | Q18 | Q19 | Q20 |
| b | b | b | b | b |
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