HOLISTIC DEVELOPMENT OF FISHERIES
Issued by Ministry of Fisheries, Animal Husbandry and Dairying
Read or download the official PDF of this gazette notification issued by the Ministry of Fisheries, Animal Husbandry and Dairying on 12th August 2026. Classified under Press Release.
Executive Summary & Key Takeaways
Executive Summary This report details the Indian government’s initiatives for the holistic development of the fisheries sector, which contributed 7.43% to the Agricultural Gross Value Added in 2023-24. Key measures include the implementation of schemes such as PMMSY, FIDF, and PM-MKSSY, alongside the extension of Kisan Credit Card (KCC) facilities for working capital. The document specifically outlines financial incentives for aquaculture insurance, including specialized provisions for SC/ST and women beneficiaries.
Key Points / Main Content
Constitutional and Economic Framework
- Jurisdiction: Under the Seventh Schedule of the Constitution, "Fisheries" fall under State purview (List-II), while "Fishing and fisheries beyond territorial waters" are under the Union mandate (List-I).
- Economic Contribution: During 2023-24, the sector accounted for 7.43% of the Agricultural GVA and 1.09% of the national GVA.
Major Development Schemes
- Primary Initiatives: The Department of Fisheries implements the Pradhan Mantri Matsya Sampada Yojana (PMMSY) and the Fisheries & Aquaculture Infrastructure Development Fund (FIDF).
- Working Capital: The Kisan Credit Card (KCC) facility has been available to fishers and fish farmers since the 2018-19 financial year to meet working capital requirements.
PM-MKSSY and Insurance Incentives
- Incentive Rate: A one-time incentive for aquaculture insurance is provided at 40% of the premium paid.
- Standard Coverage: For Water Spread Areas (WSA), the incentive is capped at ₹25,000 per hectare or ₹1 lakh per farmer for 4 hectares.
- Intensive Systems: For systems like Recirculatory Aquaculture System (RAS), bio-floc, and cage culture, the ceiling is ₹1 lakh per farmer for 1800 m³ systems.
- Social Inclusion: SC/ST and women beneficiaries receive an additional 10% incentive over the amount provided to General Category farmers.
Impact Analysis
Fishers and Fish Farmers Impact Farmers gain access to essential working capital through KCC and benefit from significantly reduced costs for aquaculture insurance premiums. Action Required Eligible farmers should apply for KCC facilities and leverage the PM-MKSSY one-time insurance incentive for their aquaculture operations.
SC/ST and Women Beneficiaries Impact These groups receive preferential financial support, specifically a higher percentage of insurance incentives compared to the general category. Action Required Interested individuals must register under the PM-MKSSY scheme to claim the additional 10% financial incentive.
State and Union Governments Impact The document reaffirms the constitutional division of responsibilities regarding the management of fisheries within and beyond territorial waters. Action Required State governments must continue managing local fisheries (Entry 21), while the Union government maintains oversight of deep-sea fishing (Entry 57).