Ministry of Fisheries, Animal Husbandry & Dairying

Weather-Based Index Insurance Scheme

Posted On: 15 MAR 2022 5:55PM by PIB Delhi

The Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying is implementing a flagship scheme namely Pradhan Mantri Matsya Sampada Yojana (PMMSY) with a highest ever investment of Rs. 20,050 crore for a period of 5 years with effect from 2020-21 to 2024- 25 in all the States/Union Territories. PMMSY inter-alia provides livelihood and nutritional support for socio-economically backward active traditional fisher’s families during the fishing ban/lean period under which Governmental financial assistance of Rs. 3000/- per annum is provided to each enrolled beneficiary along with beneficiary contribution of Rs. 1500/- annually. Further, such accumulated amount of Rs. 4500/- is disbursed to each enrolled beneficiary by the respective State/UT at the rate of Rs. 1500/- per month during the fishing ban/lean period for three months annually.

PMMSY also provides support for insurance to fishers and insurance premium subvention for fishing vessels under its Centrally Sponsored scheme component. Insurance coverage for fishers includes (i) Rs.5,00,000/- against accidental death or permanent total disability, (ii) Rs.2,50,000/- for permanent partial disability and (iii) insurance coverage for hospitalization expenses in the event of accident for a sum of Rs. 25,000/-. The Department of Fisheries has no proposal for providing weather-based index insurance scheme to cover the loss suffered by the fishermen due to adverse climatic changes. The draft National Fisheries Policy recommends for insurance of life, craft and gear and other assets of fishers from the vagaries of nature.

This information was given by The Minister of Fisheries, Animal Husbandry & Dairying Shri. Parshottam Rupala in the Lok Sabha in a written reply today.

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