Help given to entrepreneurs under the Pradhan Mantri Matsya Sampada Yojana (PMMSY)
To promote and boost fisheries and aquaculture by assisting entrepreneurs financially and technically, in May 2020 the Indian government launched the Pradhan Mantri Matsya Sampada Yojana (PMMSY) scheme. The scheme will remain effective till the financial year 2024-25.
The scheme envisages the creation of a conducive environment for private sector participation, development of entrepreneurship, promotion of ease of doing business, innovations and innovative project activities including startups and incubators in fisheries sector. To help entrepreneurs, the PMMSY has two separate components:
- Central Sector Scheme (CS)
- Centrally Sponsored Scheme (CSS)
Eligible beneficiaries for assistance under PMMSY
Individuals and private firms, fishers, fish farmers, fish workers and fish vendors, self-help groups (SHGs), fishery cooperatives, joint liability groups (JLGs), fish farmer producer organisations (FFPOs) and fish farmer producer companies (FFPCs).
Eligibility conditions
- Applicant/beneficiary having own land with clear title, free from all encumbrances. In the case of leased land, the applicant/beneficiary shall have the land lease for a minimum period of 10 years.
- Assets created either on own or leased land out of the assistance provided under entrepreneur models shall not be disposed of in any form including by way of sale, gift, transfer and lease for a period of 10 years from the date of sanction of project. In case the project beneficiary disposes of the assets, the beneficiary shall return the entire central financial assistance availed till that point of time along with accrued interest, if any, on the central financial assistance. In addition, penal interest @ 12% per annum on the central financial assistance shall also be charged. The entire central financial assistance, accumulated interest including penal interest shall be paid to the government of India in a lump sum single instalment.
- Applicants shall have necessary clearance/permission from the concerned local authorities wherever applicable as per the project requirement(s).
- Applicants shall not have availed similar assistance/subsidy for any activity of entrepreneur model or sub-activities there under from any government scheme or government agency.
Funding pattern for Central Sector Scheme (CS)
Central financial assistance:
- Up to 25% of the total project cost for the general category with a ceiling of Rs 1.25 crore per project.
- Up to 30% for scheduled castes (SC)/scheduled tribes (ST)/women with a ceiling of Rs 1.50 crore per project.
Beneficiary contribution: Minimum 10% of the total project cost.
Bank loan: Up to 65% of the total project cost in case of general category and up to 60% of the total project cost in case of SC/ST/women. Beneficiaries may contribute higher margin money in lieu of loan which in any case shall not exceed 40% of the total project cost.
Funding pattern for Centrally Sponsored Scheme (CSS)
Governmental assistance by the Centre and states combined:
- Up to 25% of the total project cost for the general category with a ceiling of Rs 1.25 crore per project.
- Up to 30% for SC/ST/women with a ceiling of Rs 1.50 crore per project.
The governmental assistance in turn will be shared between the Centre and state as:
- 60:40 between Centre and general states.
- 90:10 between Centre and northeast/Himalayan states.
- For UTs, the entire governmental assistance will be borne by the Centre.
Beneficiary contribution: Minimum 10% of the total project cost
Bank loan: Up to 65% of the total project cost in case of general category and up to 60% of the total project cost in case of SC/ST/women. Beneficiaries may contribute higher margin money in lieu of loan which in any case shall not exceed 40% of the total project cost.
End implementing agencies
For the Central Sector Scheme (CS): National Fisheries Development Board (NFDB), Hyderabad
For Centrally Sponsored Scheme (CSS): States/UTs
Details about the scheme are available on https://dof.gov.in/pmmsy
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