Page 45 - BANKING FINANCE MARCH 2024

ARTICLE

SCHEME TO

HARNESS

FISHERIES

I n Union Budget 2023-24, it was announced to launch malnutrition. There is impressive growth in Fisheries sector
a new sub-scheme "Pradhan Mantri Matsya Sampada
in India in the last few years.
Yojana" (PMMSY) with targeted investment of
Rs.6,000 crores to enable activities of Fishermen, Fish
vendors and Micro & Small Enterprises, improve value chain
efficiencies and expand the market.

Let us understand background of the scheme, importance
and various aspects in the angle of a banker.

Fisheries & Aquaculture are important source of food,
nutrition, employment and income in India. The sector
provides livelihood to more than 25 million fishers & fish
farmers at the initial level and double the number to persons
employed in the value chain. Fish is an affordable and protein
rich diet and healthiest options to mitigate hunger and
Source: Press Information Bureau, GoI

About the author The above chart depicts that Fisheries sector has reached
record fish production of 162.48 lakh tonnes in the financial
D. Surendranath
year 2021-22 and has immense potential for further growth.
Chief Manager
Union Bank of India Staff College, Moreover, it has been instrumental in sustaining the
Kalkere, Bengaluru livelihoods of over 25 million people in India especially for

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