Pradhan Mantri Matsya Sampada Yojana (PMMSY)- Objective, Features & Benefits

The fishery sector significantly supports the Indian economy. To encourage fishers and back them financially, the Government has launched the PMMSY.

This scheme is a part of the Atma-Nirbhar Bharat initiative that aims to modernise and strengthen the fisheries management structure of India.

Keep reading to learn about the online application process of PM Matsya Sampada Yojana and other details.

What Is Pradhan Mantri Matsya Sampada Yojana (PMMSY)?

PMMSY or Pradhan Mantri Matsya Sampada Yojana aims to build a ‘Blue revolution’. The Government launched this scheme to support fisheries and improve the production, infrastructure, marketing and technology of this sector.

This scheme targets modernising fishery management and improving the socio-economic welfare of fisheries. PMMSY is implemented in all the Union Territories and the Indian States for five years from 2020 to 2025.

Pradhan Mantri Matsya Sampada Yojana plans to endorse aquaculture by extending a subsidised credit facility. The Central Government aims to offer benefits under social security schemes and farmer welfare programmes to fishermen.

This scheme also extends insurance coverage on accidents.

However, individuals have to clear the eligibility criteria to make a successful application for this scheme.

What Is the Eligibility Criteria for PMMSY?

The eligibility parameters to complete the online application process of PM Matsya Sampada Yojana are as follows.

Applicants must be full-time fishers
They must be a member of the local fishers cooperative society
Individuals must belong to the BPL category
They must fall in the age bracket of 18-60 years
An applicant needs to deposit Rs. ₹1500 in a savings account

Ideally, individuals who belong to the mentioned categories are considered beneficiaries-

Fish Farmers Producer Organisations/Companies (FFPOs/Cs)
Fish vendors, workers and fisheries federations
Fishers or fish farmers
Entrepreneurs
ST/SC
Specially-abled persons
Women applicants
Fishery sector-related Self Help Groups or Joint Liability Groups

Applicants who clear these parameters can easily gain the PMMSY benefits.

What Are the Benefits of PM Matsya Sampada Yojana?

The benefits offered by the Pradhan Mantri Matsya Sampada Yojana are as follows.

This scheme aims to better the framework of supply from fishery to retail outlets.
PMMSY helps in India’s food preparation development.
It works to boost the country’s GDP and employment.
Pradhan Mantri Matsya Scheme decreases the horticulture waste.
It modernises meriting chains and quality improvement.
This scheme supports the earning of fishers and fish ranchers.
PMMSY improves the fares related to Agriculture GVA.
It offers LC BG, overdraft facility, demand loan, term loan and cash credit to beneficiaries.
It ensures ranchers receive better costs against their products.
This scheme keeps a tab over loopholes in the worth chain and develops a fishery board structure.
It implements the MOFPI plans.

Let’s look at the funding pattern of this PMMS Yojana.

What Is the Funding Pattern of the Pradhan Mantri Matsya Sampada Yojana?

This Matsya Sampada Yojana follows two funding patterns. These are -

1. Central Sector Scheme (CSS)

In this scheme, the Central Government bears all expenses of a fishery-related project. A beneficiary doesn’t need to spend a single buck.

In terms of beneficiary oriented projects under NFDB, the Central Government provides up to 60% of the project cost. This is applicable for women, ST, general category and SC.

However, the remaining expenses need to be borne by a beneficiary.

2. Centrally Sponsored Scheme (CSS)

Pradhan Mantri Matsya Sampada Yojana is divided based on beneficiaries and non-beneficiary oriented.

Beneficiary- Here, the State and Central Government would offer up to 60% of the project expenses to women, ST, general category and SC. The remaining will undergo division according to a set ratio.

Non-beneficiary- This component will bear the project expenses. However, Central and State Governments will divide this cost equally.

This ratio is as follows-

North East and Himalayan- 60: 40
States-General States- 90: 10
Union Territories- 100: 1

To gain this financial assistance, individuals have to complete the application procedure of Pradhan Mantri Matsya Sampada Yojana.

How to Apply for Pradhan Mantri Matsya Sampada Yojana Online?

The steps to make an online application for Pradhan Mantri Matsya Sampada Yojana are as follows.

Step 1: Visit the official NFDB website or PMMSY portal to complete Pradhan Mantri Matsya Sampada Yojana registration.
Step 2: Find link offering application form of Pradhan Mantri Matsya Sampada Yojana.
Step 3: Fill in this application form with required details.
Step 4: Individuals have to click on a quick link and redirect to templates for Preparation of DPR for Fisheries Projects.
Step 5: Upload valid documents and click on submit option.

These are some vital discussions on PMMSY and its operation.

Individuals should keep a tab on the official website to know updates on this yojana. This will help streamline the application.

Frequently Asked Questions

✓ Can I use financial assistance under PMMSY to purchase land?

No, PMMSY doesn’t offer funds to purchase land.

✓ Where do I need to submit Detailed Project Reports under PMMSY?

The beneficiaries have to submit Detailed Project Reports to respective District Fisheries Office.