- Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana offers a 40% premium subsidy on aquaculture insurance with special benefits for SC/ST and women farmers.
- The National Fisheries Digital Platform (NFDP) makes it easy to register, apply, and claim incentives under the scheme.
- 684 applications have been received so far, with 8 farmers already using the one-time insurance incentive.
Government of India has introduced an Aquaculture Insurance Scheme under the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PMMKSSY) to safeguard the investments of fish farmers. Implemented by the Department of Fisheries under the Ministry of Fisheries, Animal Husbandry and Dairying, the scheme provides insurance incentives and subsidies to aquaculture farmers.
Officials said the initiative is a part of the broader Pradhan Mantri Matsya Sampada Yojana (PMMSY) and is aimed at formalizing and strengthening the fisheries sector across the country.
What is Aquaculture Insurance Scheme ?
The Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) is a Central Sector Sub-scheme running from FY 2023-24 to FY 2026-27 with a budget of ₹6000 crore. Its main goal is to give financial security to aquaculture farmers by encouraging the purchase of aquaculture insurance. This helps farmers reduce risks from natural disasters, diseases, and other uncertainties in fish farming.
To support this, the Department of Fisheries has created the National Fisheries Digital Platform (NFDP), launched on 11 September 2024. The NFDP serves as a one-stop digital solution for everyone in the fisheries sector, offering services like access to institutional credit, cooperative strengthening, insurance incentives, traceability, and training.
Key Benefits and Incentives for Aquaculture Farmers
- Under PM-MKSSY, farmers receive a one-time incentive of 40% of the insurance premium paid.
- Maximum limit: ₹25,000 per hectare
- Overall cap: ₹1 lakh per farmer (for farms up to 4 hectares Water Spread Area – WSA)
- For intensive aquaculture systems such as:
- Cage culture
- Recirculatory Aquaculture Systems (RAS)
- Bio-floc systems
- Raceways
The incentive is 40% of the premium, with a cap of ₹1 lakh per farmer for 1800 cubic meters.
- SC/ST and women farmers are eligible for an additional 10% incentive on top of the 40% subsidy, ensuring greater support for these groups.
Eligibility Criteria
Anyone involved in aquaculture farming can apply for this scheme if they meet the following criteria:
- Ownership or lease of aquaculture farms up to 4 hectares Water Spread Area or intensive aquaculture systems up to 1800 m³.
- Valid identity proof and farm documents.
- Registration on the NFDP portal.
You will need documents like identity proof, farm ownership or lease papers, and insurance premium payment receipts. Applications must be submitted online through the NFDP portal to make sure processing is quick and clear.
How to Apply the Scheme via the National Fisheries Digital Platform
Getting the Aquaculture Insurance Scheme is simple through the National Fisheries Digital Platform (NFDP). Here’s how you can apply:
- Visit the NFDP portal and create your digital identity as a fisheries stakeholder.
- Register your aquaculture farm details and upload the required documents.
- Apply for the aquaculture insurance and submit your premium payment details.
- Claim the one-time incentive directly through the platform once your insurance is active.
The NFDP makes the whole process easier, helping you get institutional credit, insurance, and other benefits without any hassle.
Impact and Current Adoption of the Scheme
Since it started, the scheme has seen good adoption. So far, 684 lead applications have been received on the NFDP, including 58 from Uttar Pradesh alone. These applications have been sent to insurance companies for processing.
Out of these, 29 aquaculture farmers have applied for the one-time incentive, and 8 farmers have already received the benefits. This early use shows growing awareness and trust in the scheme among fish farmers.
| Parameter | Details |
|---|---|
| Scheme Duration | FY 2023-24 to FY 2026-27 |
| Estimated Outlay | ₹6000 crore |
| Premium Subsidy | 40% of premium paid (up to ₹25,000/ha or ₹1 lakh per farmer) |
| Additional Incentive | 10% extra for SC/ST and women farmers |
| Applications Received | 684 (including 58 from Uttar Pradesh) |
| Farmers Benefited | 8 (one-time incentive availed) |
| Official Portal | https://nfdb.gov.in |
If you are an aquaculture farmer, this scheme offers a great chance to protect your livelihood and lower risks. Register on the NFDP portal today and make the most of the insurance incentives under the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana.