Fisheries Loan: Pradhan Mantri Matsya Sampada Yojana—Eligibility and benefits explained

The Pradhan Mantri Matsya Sampada Yojana (PMMSY) is an initiative of the Department of Fisheries for ensuring sustainable and inclusive growth of the fisheries sector in India. It seeks to increase fish production, modernise infrastructure, adopt technology, support the value chain and improve traceability with an investment of ₹20,050 crore. The scheme focuses on responsible development and fisher welfare across all States and Union Territories.

Key features of Pradhan Mantri Matsya Sampada Yojana

Infrastructure development: Financial assistance for fishing harbours, landing centers, markets, feed plants, seed farms, and processing units.

Support for fish farmers: Funding for pond construction, cages, hatcheries, nurseries, aeration systems, and equipment.

Fisheries management: Aid for scientific resource management, fishery management plans, fishery information systems.

Credit-linked subsidy: Encourages fish farming as a business through financial support.

Marketing & export assistance: Support for cold chains, processing units, and packaging to boost fish exports.

Need-based funding: Financial support based on project or borrower requirements.

Low processing charges: Reduced costs for loan processing.

Credit guarantee coverage: The loans up to ₹2 crore covered under the CGTMSE scheme.

Subsidy provisions: Combined central and state/UT subsidies limited to 40% of the project cost (60% for SC/ST women).

Eligibility criteria for Pradhan Mantri Matsya Sampada Yojana 

Individual beneficiaries: Fishers, fish farmers, fish workers, and fish vendors.

Fisheries organisations: Fisheries development corporations, cooperatives, and federations.

Community groups: Self-Help Groups (SHGs) and Joint Liability Groups (JLGs) in the fisheries sector.

Business entities: Entrepreneurs, private firms (sole proprietorship, partnership, LLP and cooperative society).

Producer organisations: Fish Farmer Producer Organisations (FFPOs) and Fish Farmer Producer Companies (FFPCs).

Documents required for Pradhan Mantri Matsya Sampada Yojana

Note: Based on the overall profile and project details, you may be asked to provide additional documents. Refer to the official website for updated documents requirements. 

• Aadhaar Card and PAN Card Identity Proof.
• Bank account information.
• Business Registration Certificate.
• Detailed project report.
• Lease agreements, ownership proof, NOC from the land owner (if applicable).
• Partnership Deed or Memorandum of Association (MOA).

In conclusion, the Pradhan Mantri Matsya Sampada Yojana is an all round effort by the Government of India to transform the fisheries sector. The scheme endeavours to make a huge difference in fish production by focusing on how to develop infrastructure, sustainable practice and financial support for the fisheries livelihood and contribute to the country’s economic growth.