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companies. Under this scheme the Central Government provides 3 per cent interest subvention
to the borrower and credit guarantee up to 25 per cent of total borrowing. As on 17.12.2021, a
total of 76 projects have been approved under the scheme involving a project cost of ₹ 1802.28
crore. The amount of interest subvention released under the scheme was ₹ 12.74 crore during
2020-21 and ₹ 6.40 crore (as on 17.1.2022) during 2021-22.

FISHERIES

7.45 India is the second largest fish producing country in the world accounting for 7.56 per
cent of global production. It contributes about 1.24 per cent to the country’s GVA and over 7.28
per cent to the agricultural GVA. Fisheries sector has demonstrated an outstanding double-digit
average annual growth of 10.87 per cent since 2014-15 with record fish production of 145 lakh
tons in FY 2020-21 (provisional). In terms of employment, the sector supports the livelihood of
over 28 million people in India especially the marginalized and vulnerable communities. Export
earnings from the fisheries sector was ₹ 46,662.85 crore during 2019-20.

7.46 Recognizing the significance of the fisheries sector, the Government has taken several
initiatives over the years to unlock its full potential. To address the credit needs of fish farmers,
the Government of India in 2018-19 extended the facility of KCC also to fisheries in addition
to animal husbandry farmers to help them meet their working capital needs. For fishers and
fish farmers, the working capital includes the cost of fuel, ice, labour charges, mooring/landing
charges, etc. The credit limit for the existing KCC holders is ₹ 3 lakhs, whereas the limit for
new KCC holders for fisheries is only ₹ 2 lakhs. As on 31st December 2021, a total of 1,04,157
KCCs have been issued to fishers and fish farmers and an additional 5.04 lakh applications from
fishers and fish farmers are with the banks at various stages of issuance.

7.47 Further, the Government launched a new flagship scheme of ₹ 20,050 crores called Pradhan
Mantri Matsya Sampada Yojana (PMMSY) in May 2020 as a part of the ANB Package. Under
PMMSY, key interventions include enhancing fish production and productivity, modernizing
and strengthening the value chain, creating fisheries and post-harvest infrastructure and
developing robust fisheries management and regulatory frameworks. Moreover, emphasis is
laid on addressing critical gaps in the value chain through technology infusion, optimal water
management to achieve ‘more crop per drop’, improved quality and hygiene of fish and fish
products, insurance, value addition, demand-based branding and marketing and promotion
of initiatives bringing economic returns for stakeholders. Additionally, the scheme prioritizes
sustainability and traceability from ‘catch to consumer’ for augmenting fisheries exports and
maintaining competitiveness in the global markets. The scheme aims to create a conducive
environment for private sector participation and promotes the dynamic development of innovative
entrepreneurial ventures and viable business models in the fisheries sector. By December, 2021,
under PMMSY, proposals with an outlay of ₹ 11295.12 crores have been received from various
States/UTs against which the project proposals with total outlay of ₹ 5584.74 crores have
already been approved with ₹ 1975.63 crore as the share of the Centre.