Context
- The government is seeking to make aquaculture insurance an integral part of fisheries risk management through the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY).
- The scheme combines formalisation, insurance, enterprise support and quality improvement to make the fisheries sector more organised and resilient.
PM-MKSSY: Purpose and Beneficiaries
- PM-MKSSY is a Central Sector Sub-scheme under the Pradhan Mantri Matsya Sampada Yojana (PMMSY), approved in 2024.
- It is implemented by the Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying.
- The scheme runs for four years from FY 2023-24 to FY 2026-27 with an outlay of ₹6,000 crore.
- Its major objectives are formalisation, institutional finance, aquaculture insurance, value-chain efficiency and quality assurance.
- Beneficiaries include fishers, fish farmers, fish workers, vendors, micro and small enterprises, cooperatives, SHGs and FFPOs.
Component 1-A: Formalisation through NFDP
- Component 1-A focuses on the formalisation of the unorganised fisheries sector.
- Fisheries stakeholders are registered on the National Fisheries Digital Platform (NFDP).
- NFDP creates work-based digital identities and a formal database of fisheries stakeholders.
- It facilitates access to government incentives, institutional credit, insurance, training and extension support.
- It also improves financial literacy and transparency in benefit delivery.
Component 1-B: Aquaculture Insurance and Risk Protection
- Component 1-B promotes the adoption of aquaculture insurance.
- It aims to cover at least 1 lakh hectare of aquaculture farms during the project period.
- Eligible beneficiaries receive a one-time incentive equal to 40% of the insurance premium, subject to ₹25,000 per hectare.
- The maximum incentive is ₹1 lakh per farmer for up to 4 hectares of water spread area.
- Intensive systems such as cage culture, RAS, bio-floc and raceways are also covered within prescribed limits.
- SC, ST and women beneficiaries receive an additional incentive equal to 10% of the incentive payable to the general category.
- This shifts aquaculture risk management from post-loss coping towards pre-loss financial protection.
Components 2–4: Enterprise, Quality and Management Support
- Component 2: Provides performance grants to fisheries micro and small enterprises to improve value-chain efficiency and employment generation.
- Component 3: Promotes adoption of fish and fishery-product safety and quality assurance systems.
- Component 4: Supports project management, monitoring and evaluation through Project Management Units.
- Together, these components integrate formalisation, finance, insurance, enterprise development and quality assurance.
FAQs
Q1. What is PM-MKSSY?
It is a Central Sector Sub-scheme under PMMSY aimed at formalising and strengthening the fisheries sector.
Q2. What is Component 1-A?
It focuses on formalisation of fisheries stakeholders through NFDP.
Q3. What is Component 1-B?
It promotes aquaculture insurance and risk protection.
Q4. What is the insurance incentive under Component 1-B?
A one-time incentive equal to 40% of the premium, subject to prescribed ceilings.
Q5. Which groups receive additional insurance support?
SC, ST and women beneficiaries receive an additional 10% incentive over the general-category incentive.
