POLICY INITIATIVES UNDERTAKEN BY THE GOVERNMENT OF INDIA AND THE REPERCUSSIONS THESE HAVE HAD ON THE FISHERIES SECTOR IN INDIA

Abstract

Recent measures and statements made by the government of India to stimulate and promote the fisheries and aquaculture businesses in the country. A sub-scheme of the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PMMSY), the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) has a total investment of Rs. 6,000 crores. Its goal is to increase the earnings and incomes of people working in the fishing sector, such as fishermen, fish merchants, and proprietors of micro and small enterprises involved in the industry. It has a crucial emphasis on formalising the sector by increasing digital inclusion, access to institutional finance, incentives for risk reduction, value-chain efficiencies, and job development for women.

 The government of India has enacted several policy actions to assist and advance the fisheries industry in the country. These measures have had a considerable impact on the sector, helping to stimulate its growth, boost its sustainability, and improve the socioeconomic situations of fishermen and fish farmers.