Context: Recently, the Union Cabinet has given its approval for implementation of the Pradhan Mantri Matsya Sampada Yojana (PMMSY) – a scheme to bring about Blue Revolution through sustainable and responsible development of fisheries sector in India.
About Pradhan Mantri Matsya Sampada Yojana (PMMSY)

• It is a scheme to bring about Blue Revolution through sustainable and responsible development of fisheries sector in India.
• It will be implemented during a period of 5 years from FY 2020-21 to FY 2024-25.
• The PMMSY will be implemented as an umbrella scheme with two separate Components namely (a) Central Sector Scheme (CS) and (b) Centrally Sponsored Scheme (CSS).  
• The Centrally Sponsored Scheme (CSS) Component is further segregated into Non-beneficiary oriented and Beneficiary orientated sub­components/activities under the following three broad heads: 

1. Enhancement of Production and Productivity 
2. Infrastructure and Post-Harvest Management  
3. Fisheries Management and Regulatory Framework 

Funding Pattern: PMMSY will be implemented with the following funding pattern:  
Central Sector Scheme (CS): 

• The entire project/unit cost will be borne by the Central government (i.e. 100% central funding). 
• Wherever direct beneficiary oriented i.e. individual/group activities are undertaken by the entities of central government including National Fisheries Development Board (NFDB), the central assistance will be up to 40% of the unit/project cost for General category and 60% for SC/ST/Women category.  

The Centre and State financial assistance for CS and CSS as mentioned above will be shared as given below:

• North Eastern & Himalayan States: 90% Central share and 10% State share.
• Other States: 60% Central share and 40% State share.
• Union Territories (with legislature and without legislature): 100% Central share.

Benefits of the scheme are as follows:

• Address the critical gaps in the fisheries sector and realize its potential.
• 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 through sustainable and responsible fishing practices.
• Improving availability of certified quality fish seed and feed, traceability in fish and including effective aquatic health management.
• Creation of critical infrastructure including modernisation and strengthening of value chain.
• Creation of direct gainful employment opportunities to about 15 lakh fishers, fish farmers, fish workers, fish vendors and other rural/urban populations in fishing and allied activities and about thrice this number as indirect employment opportunities including enhancement of their incomes.
• Boost to investments in fisheries sector and increase of competitiveness of fish and fisheries products.
• Doubling of fishers, fish farmers and fish workers incomes by 2024.
• Social, physical and economic security for fishers and fish workers.