12 Feb 2024 PM Matsya Kisan Samridhi Sah-Yojana
This article covers ‘Daily Current Affairs’ and the topic details of “PM Matsya Kisan Samridhi Sah-Yojana” .This topic is relevant in the “Indian economy & Agriculture” section of the UPSC CSE exam.
Why in the News?
The Cabinet approves the “Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY),” a Central Sector Sub-scheme under the Pradhan Mantri Matsya Sampada for micro and small fishing firms. It reports to the Ministry of Fisheries, Animal Husbandry, and Dairy.
Goals and objectives of PM-MKSSY:
- Formalisation: Gradual formalisation of the unorganised fisheries industry by self-registration of fishers, fish farmers, and support workers on a National Fisheries industry Digital Platform, which includes the development of work-based digital IDs for fish workers to improve service delivery.
- Ensuring Safety and Quality Assurance: Performance grants are used to incentivize micro and small businesses to adopt and expand fish and fishery product safety and quality assurance systems, as well as to create and maintain jobs.
- Aquaculture Insurance: Offering a one-time reward to recipients who purchase aquaculture insurance.
- Incentivizing Value-Chain Efficiencies: Providing performance grants to fisheries and aquaculture microenterprises to improve value-chain efficiencies, including employment creation and maintenance.
- Access to Institutional funding: Improving access to institutional funding for fisheries sector micro and small businesses.
Expenditure
The Sub-scheme will be implemented as a Central Sector Sub-scheme under the Central Sector Component of the PMMSY with an estimated outlay of Rs.6,000 crore, comprising 50% public finance, i.e. Rs.3,000 crore, including external financing from the World Bank and the AFD, and the remaining 50%, i.e. Rs.3,000 crore, being anticipated investment from beneficiaries/private sector leverage. It will be implemented for four years, from fiscal year 2023-24 to fiscal year 2026-27, throughout all states and UTs.
Fisheries Sector in India
- Fisheries and aquaculture are significant sources of food, nutrition, employment, and money in India. At the primary level, the sector employs about 25 million fishers and fish growers, with twice as many employed further up the value chain.
- India is the world’s third largest fish producer, accounting for 8% of worldwide production, and ranks second in aquaculture production.
- In 2021-22, fish production is expected to be 16.24 million tonnes (MTs), with 4.12 MTs coming from marine sources and 12.12 MTs coming from aquaculture.
Challenges Faced by the Fisheries Sector
Overfishing:
Overfishing happens when fish are harvested at a rate that surpasses their natural reproduction, resulting in the depletion of fish populations. This could lead to the collapse of fisheries and have a severe influence on the ecology.
Illegal, Unreported, and Unregulated (IUU) Fishing:
Illegal, Unreported, and Unregulated (IUU) fishing hampers fisheries management efforts since it operates outside the legislation. It can lead to overfishing, endanger marine ecosystems, and create unfair competition for legal fishermen.
Pollution:
Agricultural runoff, industrial discharges, and plastic trash can contaminate water bodies, compromising the health of fish and other aquatic creatures. Pollutants can also build in fish tissues, providing health concerns to humans who consume polluted seafood.
Invasive Species:
The introduction of non-native species into new environments can disrupt local ecosystems and harm native fish populations. Invasive species may outcompete native species for resources or spread illness.
Habitat Degradation:
Human activities such as coastal expansion, pollution, and destructive fishing techniques have the potential to destroy vital fish habitats such as coral reefs, mangroves, and seagrass beds. Loss of habitat lowers fish breeding and feeding grounds.
Climate change:
Climate change influences fish populations by changing ocean temperatures, currents, and prey distribution. It can also cause ocean acidification, which has an impact on the health of marine creatures and fisheries productivity in general.
Limited Access to Markets and Resources:
Market and resource access is typically a difficulty for small-scale fishers. A lack of infrastructure, technology, and financial assistance can limit their capacity to compete in the global market.
Significance of PMMSY
- Job Creation: It is expected to produce 1.7 lakh new jobs, with a focus on hiring 75,000 women, as well as 5.4 lakh additional employment opportunities in the micro and small firm value chain.
- Performance-Based Incentives: The gradual transition from traditional subsidies to performance-based incentives in fisheries
- Addressing Aquaculture Crop Losses: To enhance production and productivity, address aquaculture crop losses caused by disease through aquaculture insurance coverage. Improve export competitiveness with value addition, value realisation, and value creation.
- Value Chain Efficiencies: Increased income due to improved profit margins related to value chain efficiencies
- National Fisheries Digital Platform: To establish a National Fisheries Digital Platform to equip 40 lakh small and micro-enterprises with work-based IDs.
- Job Creation: It is expected to produce 1.7 lakh new jobs, with a focus on hiring 75,000 women, as well as 5.4 lakh additional employment opportunities in the micro and small firm value chain.
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Prelims practice question
Q1) Consider the following statements:
1) ‘Vanami Shakti’ initiative is associated with the empowerment of Women in fisheries sector
2) The ‘Fisheries and Aquaculture Infrastructure Development Fund (FIDF)’ is administered by NABARD
3) Odisha has implemented the ‘Sagar Tatva’ initiative for sustainable fisheries management
4) The primary objective of the National Fisheries Development Board (NFDB) is to Promote recreational fishing
How many of the above statements are correct?
a) Only one
b) Only two
c) Only three
d) All four
ANSWER: C
Mains practice questions
Q1) Discuss the importance of sustainable fisheries management in India and the potential consequences of inadequate measures on both the environment and the economy.
Q2) How can the integration of modern technology, such as satellite imagery and data analytics, contribute to the enhancement of fisheries management and productivity in India?
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