Sign In
Learn bits
Schemes & Policies
Mahesh

16/03/22 07:37 AM IST

Weather-Based Index Insurance Scheme

In News 

  • The Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying is implementing a flagship scheme namely Pradhan Mantri Matsya Sampada Yojana (PMMSY) with a highest ever investment of Rs. 20,050 crore for a period of 5 years with effect from 2020-21 to 2024- 25 in all the States/Union Territories.
About PMMSY
  • PMMSY  inter-alia provides livelihood and nutritional support for socio-economically backward active traditional fisher’s families during the fishing ban/lean period under which Governmental financial assistance of Rs. 3000/- per annum is provided to each enrolled beneficiary along with beneficiary contribution of Rs. 1500/- annually.
  • Further, such accumulated amount of Rs. 4500/- is disbursed to each enrolled beneficiary by the respective State/UT at the rate of Rs. 1500/- per month during the fishing ban/lean period for three months annually.
  • PMMSY also provides support for insurance to fishers and insurance premium subvention for fishing vessels under its Centrally Sponsored scheme component. 

Insurance coverage for fishers includes
  • Rs.5,00,000/- against accidental death or permanent total disability,
  • Rs.2,50,000/- for permanent partial disability
  • insurance coverage for hospitalization expenses in the event of accident for a sum of Rs. 25,000/-
Source- PIB 

More Related Current Affairs View All

20 Aug

How should toll collection practices be reformed?

'The Public Accounts Committee (PAC) of Parliament has proposed major changes to toll collection on national highways, including a recommendation to end the practice of perpetual t

Read More

20 Aug

China plans to connect the restive Xinjiang to Tibet

'Recently, China established the Xinjiang-Xizang Railway Co Ltd, which state media described as a “significant step in the development of one of China’s most advanced t

Read More

20 Aug

Nominations to UT Assemblies

'The Union Home Ministry informed the J&K High Court that the Lieutenant Governor can nominate five members to the Assembly without ministerial advice, reviving the debate on n

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps