The Union Cabinet has given its approval for the implementation of the Pradhan Mantri Matsya Sampada Yojana (PMMSY) -- a scheme aimed at bringing about blue revolution through sustainable and responsible development of fisheries sector in the country.
The scheme, with an estimated investment of Rs 20,050 crore, will be implemented during five years from 2020-21 to 2024-25.
The Central share is Rs 9,407 crore, state share Rs 4,880 crore and beneficiaries' share Rs 5,763 crore.
An official release said on Wednesday that the PMMSY will be implemented as an umbrella scheme with two separate components -- Central Sector Scheme (CS) and Centrally Sponsored Scheme (CSS).
The release said the Centrally Sponsored Scheme (CSS) component has been segregated into non-beneficiary oriented and beneficiary orientated subcomponents under three broad heads -- enhancement of production and productivity, infrastructure and post-harvest management and fisheries management and regulatory framework.
Under the Central Sector Scheme, the entire project/unit cost will be borne by the Central government.
"Wherever direct beneficiary oriented, i.e., individual/group activities are undertaken by the entities of the Central government including the National Fisheries Development Board (NFDB), the Central assistance will be up to 40 per cent of the unit/project cost for general category and 60 per cent for SC/ST/women category," said the release.
The release said that under the Centrally Sponsored Scheme (CSS), "for the non-beneficiary orientated sub-components/activities under CSS component to be implemented by the states/UTs, the entire project/unit cost will be shared between Centre and State".
The release said that the decision will address the critical gaps in the fisheries sector and realize its potential and help augment fish production and productivity at a sustained average annual growth rate of about 9 per cent to achieve a target of 22 million metric tons by 2024-25.
( With inputs from ANI )