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Pradhan Mantri Matsya Sampada Yojana: FM Sitharaman reserves Rs 20,000 crore for welfare of fishermen

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Finance Minister Nirmala Sitharaman on May 15 said an amount of Rs 20,000 crore will be reserved for the welfare of fishermen through the Pradhan Mantri Matsya Sampada Yojana (PMMSY)

Sitharaman was addressing a press conference to announce the third tranche of the economic stimulus package covering agriculture, fisheries and allied activities.

PMMSY scheme will be launched for integrated sustainable and inclusive development of marine and inland fisheries.

Rs 9,000 crore has been reserved for the development of infrastructure in fishing harbours, cold chains as well as markets.

The registration of the 242 shrimp hatcheries and rearing hatcheries have been extended for the next three months while marine capture fisheries and aquaculture has been relaxed to cover inland fish farming.

The scheme is expected to help with providing employment to over 55 lakh people and increase production to 70 lakh tonnes over the next five years. This is also expected to result in exports doubling to Rs 1 crore.

The FM also said that all COVID-19 related deadline extensions have been honoured including overseas contracts.