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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.
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.
The eligibility parameters to complete the online application process of PM Matsya Sampada Yojana are as follows.
Ideally, individuals who belong to the mentioned categories are considered beneficiaries-
Applicants who clear these parameters can easily gain the PMMSY benefits.
The benefits offered by the Pradhan Mantri Matsya Sampada Yojana are as follows.
Let’s look at the funding pattern of this PMMS Yojana.
This Matsya Sampada Yojana follows two funding patterns. These are -
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.
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-
To gain this financial assistance, individuals have to complete the application procedure of Pradhan Mantri Matsya Sampada Yojana.
The steps to make an online application for Pradhan Mantri Matsya Sampada Yojana are as follows.
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.
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Disclaimer: This information is added only for informative purposes and collected from different sources across the Internet. Digit Insurance is not promoting or recommending anything here. Please verify the information before making any decisions.
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