Fisheries sector contributes about 1.24 per cent to the country’s GVA and over 7.28 per cent to the agricultural GVA. Fisheries sector has demonstrated an outstanding double-digit average annual growth of 10.87 per cent since 2014-15 with record fish production of 145 lakh tons in FY 2020-21 (provisional). In terms of employment, the sector supports the livelihood of over 28 million people in India especially the marginalized and vulnerable communities. Export earnings from the fisheries sector was ? 46,662.85 crore during 2019-20.
Recognizing the significance of the fisheries sector, the Government has taken several initiatives over the years to unlock its full potential. To address the credit needs of fish farmers, the Government of India in 2018-19 extended the facility of KCC also to fisheries in addition to animal husbandry farmers to help them meet their working capital needs. For fishers and fish farmers, the working capital includes the cost of fuel, ice, labour charges, mooring/landing charges, etc. The credit limit for the existing KCC holders is ? 3 lakhs, whereas the limit for new KCC holders for fisheries is only ? 2 lakhs. As on 31st December 2021, a total of 1,04,157 KCCs have been issued to fishers and fish farmers and an additional 5.04 lakh applications from fishers and fish farmers are with the banks at various stages of issuance.
Further, the Government launched a new flagship scheme of ? 20,050 crores called Pradhan Mantri Matsya Sampada Yojana (PMMSY) in May 2020 as a part of the ANB Package. Under PMMSY, key interventions include enhancing fish production and productivity, modernizing and strengthening the value chain, creating fisheries and post-harvest infrastructure and developing robust fisheries management and regulatory frameworks. Moreover, emphasis is laid on addressing critical gaps in the value chain through technology infusion, optimal water management to achieve ‘more crop per drop’, improved quality and hygiene of fish and fish products, insurance, value addition, demand-based branding and marketing and promotion of initiatives bringing economic returns for stakeholders.
Additionally, the scheme prioritizes sustainability and traceability from ‘catch to consumer’ for augmenting fisheries exports and maintaining competitiveness in the global markets. The scheme aims to create a conducive environment for private sector participation and promotes the dynamic development of innovative entrepreneurial ventures and viable business models in the fisheries sector. By December, 2021, under PMMSY, proposals with an outlay of ? 11295.12 crores have been received from various States/UTs against which the project proposals with total outlay of ? 5584.74 crores have already been approved with ? 1975.63 crore as the share of the Centre.