The Department of Fisheries, Ministry of Fisheries Animal Husbandry and Dairying is implementing a new Central Sector Sub-scheme namely the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) under the ongoing Pradhan Mantri Matsya Sampada Yojana (PMMSY) for a period of four years from FY 2023-24 to FY 2026-27 at an estimated outlay of ₹6000. As of now, an amount of Rs. 11.84 crore has been sanctioned under the PM-MKSSY.

The Component 1-B of PM-MKSSY provides onetime incentive to the aquaculture farmers against purchase of insurance with farm size upto 4 hectares of water spread area. The ‘onetime incentive’ is provided at the rate of 40% of the cost of premium subject to the ceiling of ₹25000 per hectare of water spread area of the aquaculture farm. The maximum incentive payable to single farmer is ₹100,000 upto farm size of 4 hectares of water spread area. For intensive form of aquaculture other than farms such as cage culture, Re-circulatory Aquaculture System (RAS), bio-floc, raceways, etc. the incentive payable is 40% of premium. The maximum incentive payable is ₹1 lakh and the maximum unit size eligible is 1800 m³. The aforesaid benefit of ‘onetime incentive’ is provided for aquaculture insurance purchased for one crop only i.e. one crop cycle.  Scheduled Caste (SC), Scheduled Tribe (ST) and Women beneficiaries would be provided an additional incentive @ 10% of the incentive payable for General Categories. 

The Component 3 of PM-MKSSY provides financial incentive to fisheries micro and small enterprises in the form of Performance Grant to adopt safety and quality assurance systems in fish and fishery products through provision of performance grants against a set of measurable parameters. The quantum of Performance Grant is given in the following manner: (i)For a microenterprise, 25% of the total investment or, ₹35 lakhs, whichever is lower, for General Category and 35% of total investment or, ₹45 lakhs, whichever is lower, for SC, ST and Women owned microenterprises. (ii) For a Small enterprise, 25% of total investment or ₹75 lakhs, whichever is lower, for General Category and 35% of total investment or ₹100 lakhs, whichever is lower, for Scheduled Caste (SC), Scheduled Tribe (ST) and Women owned small enterprises. (iii) For Village Level Organizations and Federations of Self Help Groups (SHGs), Fish Farmer Producer Organisation (FFPOs) and Cooperatives, 35% of total investment or ₹200 lakhs, whichever is lower.

This information was given by Union Minister of State, Ministry of Fisheries, Animal Husbandry and Dairying, Shri George Kurian, in a written reply in Rajya Sabha on 2^nd April, 2025.

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