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The Pradhan Mantri Matsya Sampada Yojana (PMMSY) is a scheme introduced by the Indian government as part of the 'Atma Nirbhar Bharat' package with an investment of Rs. 20,050 crores. It aims to bring about the Blue Revolution by promoting sustainable and responsible development of the fisheries sector in India. The scheme is implemented for a period of 5 years from FY 2020-21 to FY 2024-25 in all states and Union Territories.

PMMSY is implemented as an umbrella scheme with two components: the Central Sector Scheme, where the project cost is borne by the Central government, and the Centrally Sponsored Scheme, where sub-components and activities are implemented by the states and Union Territories with cost-sharing between the Centre and the State.

The objectives of PMMSY include harnessing the potential of the fisheries sector, enhancing fish production and productivity, modernizing the value chain, doubling the incomes of fishers and fish farmers, and increasing the contribution of the sector to agricultural Gross Value Added (GVA) and exports. It also aims to ensure social, physical, and economic security for fishers and fish farmers, and to build a robust fisheries management and regulatory framework.

The fisheries sector plays a crucial role in the Indian economy, contributing to national income, exports, food security, and employment generation. It provides livelihoods for millions of fishers and fish farmers, particularly among the economically disadvantaged population. The sector has been a major contributor to foreign exchange earnings, with aquaculture products accounting for a significant portion of the country's total fishery exports.

Challenges in the implementation of the scheme include the infrastructural and technological gap in fish production, processing, storage, transportation, and marketing. There is also a lack of human resource development, with a shortage of skilled manpower and extension services. Inadequate access to credit and insurance exposes fish farmers and fishermen to risks and vulnerabilities. Additionally, there is a need for better awareness and compliance with regulatory and legal frameworks for fisheries management.

Some other initiatives related to the fisheries sector include Sagar Parikrama, Palk Bay Scheme, and the Fisheries and Aquaculture Infrastructure Development Fund (FIDF).

The Blue Revolution aims to increase fisheries production and productivity through responsible and sustainable practices, focusing on aquaculture and fisheries resources. Its objectives include increasing fish production, modernizing the fisheries with new technologies, ensuring food and nutritional security, generating employment and export earnings, and empowering fishers and aquaculture farmers.

The Kisan Credit Card Scheme, introduced in 1998, provides credit support to farmers by simplifying procedures and offering timely access to credit from the banking system. In 2018-19, the scheme was extended to fisheries and animal husbandry farmers to meet their working capital needs. Implementing agencies for the scheme include commercial banks, regional rural banks (RRBs), small finance banks, and cooperatives.