Cabinet approves Pradhan Mantri Matsya Sampada Yojana

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News:Union Cabinet approved for the implementation of the Pradhan Mantri Matsya Sampada Yojana(PMMSY).

Facts:

  • Aim: To bring about a Blue Revolution through sustainable and responsible development of the fisheries sector in India.
  • Objectives:
    • Augmenting fish production and productivity at a sustained average annual growth rate of about 9% to achieve a target of 22 million metric tons by 2024-25.
    • Creation of direct gainful employment opportunities to about 15 lakh fishers, fish farmers, fish workers, fish vendors etc.
    • Doubling of fishers, fish farmers and fish workers incomes by 2024.
  • Duration: 5 years from FY 2020-21 to FY 2024-25.
  • Nodal Ministry: Department of Fisheries, Ministry of Animal Husbandry, Dairying and Fisheries.
  • Components: The scheme has two components — Central Sector Scheme(CS) and Centrally Sponsored Scheme(CSS).