1: Brief Understanding of PM-MKSSY

- It is a sub-scheme under the Pradhan Mantri Matsya Sampada Yojana for the micro and small enterprises in the fisheries sector.

- The Indian Union Cabinet approved the scheme.

- Aimed at a total investment of ₹6,000 crore spread over the next four years (2023-2027).

- The scheme features 50% public finance, including funding from the World Bank and Agence Française de Développement, and the remaining from the private sector.

- It will be implemented across all states and union territories of India.

2: Significance of PM-MKSSY

- Fishers, fish vendors, aquaculture farmers, and fish workers stand to gain from this scheme.

- The scheme hopes to bring about gradual formalisation of the fisheries sector and facilitate better access to institutional credit.

3: India’s Fisheries Sector – An Overview

- India holds the world’s 3rd and 2nd positions in fish and aquaculture production, respectively, and is the 4th largest exporter of fish and fishery products.

- The fisheries sector is also a significant employer, providing livelihood to over 30 million people.

- The Department of Fisheries, under the Ministry of Fisheries, Animal Husbandry and Dairying, drives the “Pradhan Mantri Matsya Sampada Yojana” for sustainable development of the sector.

4: Challenges Faced by India’s Fisheries Sector

  1. Overfishing: Overexploitation of fish stocks poses a significant threat.
  2. Illegal Unreported and Unregulated (IUU) Fishing: Unauthorised fishing activities affect fish stock management.
  3. Lack of Infrastructure and Technology: Inadequate facilities and outdated technology hinder the sector's growth.
  4. Poor Fisheries Management: Limited regulation enforcement, incomplete data on fish stocks, and insufficient management measures lead to overfishing and IUU fishing.
  5. Environmental and Climate Challenges: Pollution, habitat destruction, climate changes affect fish distribution and reproduction.
  6. Socio-economic Issues: Poverty, unequal resource distribution, access to credit and social services intensify the vulnerability of fishing communities.

5: Government Initiatives for Fisheries Sector Growth

- The National Fisheries Development Board (NFDB), formed in 2006, plans and promotes fisheries development in India.

- The Pradhan Mantri Matsya Sampada Yojana (PMMSY) (2020) aims at enhancing fish production and farmers' income.

- Blue Revolution (2015) promotes sustainable management of fisheries.

- Sagarmala Programme (2015) promotes port-led development and the maritime sector.

- The fisheries sector has been guided by the comprehensive National Fisheries Policy (2020).

- Fish Farmers Development Agencies (FFDAs) are present at district levels to provide necessary technical guidance, training, and resources.

- Coastal Aquaculture Authority (CAA) regulates and promotes environmentally sustainable coastal aquaculture activities.

6: Way Forward

- Addressing challenges mandatorily needs joint efforts from the government, fisheries stakeholders, civil society organisations, and the private sector.

- Measures such as sustainable fisheries management, infrastructure and technology investments, strong governance structures, community-centric approaches and climate change impacts mitigation are crucial for a sustained and resilient fisheries sector.