The Ministry of Fisheries, Animal Husbandry & Dairying provided an update on the holistic development of the fisheries sector, which is one of the fastest-growing agri-allied sectors in India. The fisheries sector contributed approximately 7.43% to the Agricultural Gross Value Added (GVA) and about 1.09% to the country's total GVA during the 2023-24 period.
Under the constitutional framework, fisheries fall within the purview of State Governments (Entry 21 of List-II), while fishing beyond territorial waters is under the Union Government's mandate (Entry 57 of List-I). The Department of Fisheries has implemented several development schemes including the Pradhan Mantri Matsya Sampada Yojana (PMMSY), Fisheries & Aquaculture Infrastructure Development Fund (FIDF), and Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY).
The PM-MKSSY scheme provides a one-time incentive for aquaculture insurance purchase at 40% of the premium paid, with a ceiling of ₹25,000 per hectare or ₹1 lakh per farmer for 4 hectares Water Spread Area. For intensive aquaculture systems including cage culture, Recirculatory Aquaculture System (RAS), bio-floc, and raceways, the incentive is 40% of premium paid with a ceiling of ₹1 lakh per farmer for 1800 m³ systems. SC/ST and women beneficiaries receive an additional 10% incentive beyond the general category benefits.
Additionally, the Government of India extended the Kisan Credit Card (KCC) facility to fishers and fish farmers starting from financial year 2018-19 to help meet their working capital requirements. This information was provided by Fisheries, Animal Husbandry and Dairying Minister Shri Rajiv Ranjan Singh alias Lalan Singh in response to a question in the Rajya Sabha.