Cabinet approves scheme to boost fisheries sector

New Delhi, May 20 (KNN) In a big boost to fisheries sector, the Cabinet, chaired by the Prime Minister Narendra Modi, has given its approval for implementation of Rs 20,050 crore Pradhan Mantri Matsya Sampada Yojana (PMMSY).

The scheme aims at doubling of fishers, fish farmers and fish workers incomes by 2024. It will be implemented during a period of 5 years from fiscal 2020-21 to fiscal 2024-25.

The scheme will help improve infrastructure and boost investment in fisheries sector.

The scheme will bring sustainable and responsible development of fisheries sector in India under two components - Central Sector Scheme (CS) and Centrally Sponsored Scheme (CSS).

The central government's share would be at Rs. 9,407 crore while state government's and beneficiaries' share would be Rs. 4,880 crore and Rs. 5,763 crore respectively.