The government, led by Prime Minister Shri Narendra Modi, has approved a plan called the ‘Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)’ under the Sub-scheme Pradhan Mantri Matsya Sampada scheme. This program aims to organize and help small fishery businesses by investing over Rs. 6,000 crores in the next four years, from FY 2023–24 to FY 2026–27, across all States and Union Territories.

Objectives:

1. Informal fishing industry to formalize through self-registration on a national digital platform, creating digital IDs for workers.

2. Facilitating access to institutional funding for micro and small businesses in the fishing sector.

3. Providing a one-time incentive for aquaculture insurance to beneficiaries.

4. Offering performance grants to improve value-chain efficiencies and create jobs in fisheries and aquaculture microenterprises.

5. Encouraging fish businesses to implement safety and quality assurance systems, creating jobs through performance grants.

Intended Beneficiaries:

Intended beneficiaries encompass fishermen, fish farmers, workers, vendors, and other stakeholders in the fisheries value chain. Micro and small businesses, such as proprietary companies, partnerships, cooperatives, federations, startups, and Fish FPOs (FFPOs), along with Farmers Producer Organizations (FPOs), are included. The Department of Fisheries may designate additional targeted recipients.

Benefits for Applicants:

1. The program provides access to institutional loans to support 5,500 fisheries cooperatives and 6.4 lakh microenterprises.

2. Through collaboration with micro and small businesses, the program aims to ensure the availability of safe and high-quality seafood.

3. The initiative strives to enhance the efficiency of the seafood value chain with the assistance of micro and small businesses.

4. The program is expected to create job opportunities for unemployed residents across India.

Needed documents:

· Aadhaar Card

· PAN Card

· Bank Account Details

· Business Registration Certificate

· Project Report

· Land Documents

· Partnership Deed or Memorandum of Association (MOA)

How to apply?

1. Explore the benefits of the Matsya Kisan Samridhi Sah-Yojana by visiting the official website.

2. Simply click on the ‘Apply Online’ link on the main page to begin.

3. Follow the instructions on the new page, provide the requested information, and attach the necessary documents.

4. Complete the process by selecting the ‘Submit’ option.