Coronavirus economic stimulus package: Cabinet approves Rs 20,050 cr scheme for fisheries sector
The Cabinet on Wednesday approved a scheme to bring about a blue revolution through sustainable and responsible development of the fisheries sector with a total estimated investment of Rs 20,050 crore in the next five years
New Delhi: The Cabinet on Wednesday approved a scheme to bring about a blue revolution through sustainable and responsible development of the fisheries sector with a total estimated investment of Rs 20,050 crore in the next five years.
Of the total investment under the 'Pradhan Mantri Matsya Sampada Yojana' (PMMSY), the central share would be Rs 9,407 crore, the state share of Rs 4,880 crore and beneficiaries' share of Rs 5,763 crore, an official statement said.
The central scheme, announced in the Budget this year, will be implemented for five years from 2020-21 to 2024-25 fiscal.
The objective of PMMSY is to create direct employment opportunities to 15 lakh people in the sector, the double income of fish farmers and workers by 2024 besides addressing the critical gaps in the fisheries sector and increase fish production to 22 million tonne by 2024-25 through sustainable and responsible fishing practices.
The scheme will focus on creating critical infrastructure including modernisation and strengthening of the value chain and improve the availability of certified quality fish seed and feed, traceability in fish and including effective aquatic health management.
It will give a boost to investments in the fisheries sector and increase the competitiveness of fish and fisheries products.
According to the government, the PMMSY will be implemented as an umbrella scheme with two separate components namely Central Sector scheme (CS) and Centrally Sponsored Scheme (CSS).
Under the Central Sector Scheme, the entire project and unit cost will be borne by the central government.
In case there are direct beneficiary oriented activities undertaken by the government entities like National Fisheries Development Board (NFDB), the central assistance would be up to 40 percent of the project cost for general category people and 60 percent for backward caste people and women.
However, under the Centrally Sponsored Scheme, non-beneficiary oriented project costs will be shared between the centre and state. The centre will provide 100 percent funding for projects undertaken in union territories, but in hilly states it would be in the ratio of 90:10, while for other states 60:40.
For beneficiary oriented projects, the funding will be limited to 40 percent of the project cost for the general category and 60 percent for backward caste people and women. For which, the fund will be shared in the ration of 90:10 for hilly states, 60:40 for other states and 100 percent for union territories, it added.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
Coronavirus Outbreak Updates: Mumbai sees 1,460 new cases, 41 deaths today; Delhi tally reaches 80,188
Coronavirus Updates: With 1,460 new cases, Mumbai's COVID-19 tally rose to 73,747 on Saturday while deaths from the virus increased to 4,282 with 41 patients succumbing to the virus today
Coronavirus Updates: Confirmed cases in Maharashtra cross two lakh with 7,074 new infections reported today; toll reaches 8,671
Coronavirus Updates: According to a state health department bulletin, over 1.98 lakh patients have been discharged till date and the recovery rate stands at 54.02 percent
India crosses four lakh COVID-19 cases with 15,413 new infections; number of labs has been increased to 981, says Union health ministry
The health ministry has said that a total of 2,27,755 patients have been cured of COVID-19 till date and the number of recoveries exceeds the number of active cases by over 58,000.