Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) is a Central Sector Sub-scheme of Pradhan Mantri Matsya Sampada Yojana (PMMSY). PM-MKSSY is implemented in all the States and Union Territories for a period of four years from FY 2023-24 to FY 2026-27. PM-MKSSY offers provisions to facilitate the adoption of insurance for coverage of aquaculture farms across the country by incentivizing crop insurance and boosting its off-take. Farmers engaged in newer forms of aquaculture such as cage culture, RAS, bio-floc, raceways and other types of aquaculture practices like mariculture and cold-water fisheries will be encouraged to purchase insurance products. As part of the scheme, a 'one-time incentive' for one crop cycle to aquafarmers for purchasing aquaculture insurance is being provided. Eligible Beneficiaries The eligible beneficiaries for this component under PM-MKSSY will include the following: Aquaculture (including mariculture) farmers, Fisheries Micro and Small enterprises in the form of Proprietary Firms, Partnership Firms and Companies registered in India, Societies, Limited Liability Partnerships (LLPs), Cooperatives, Federations, Village Level Organizations like Self Help Groups (SHGs), Fish Farmers Producer Organizations (FFPOs) and Startups practicing aquaculture. Benefits A 'one-time incentive' will be provided as follows: To the willing farmers with farm size of 4 hectares of Water Spread Area (WSA) and less. Against purchase of aquaculture insurance at the rate of 40% of the cost of premium subject to a limit of ₹25,000 per hectare of WSA of the aquaculture farm. Maximum incentive payable to single farmer will be 1,00,000 and maximum farm size eligible for incentive is 4 hectares of WSA. If the farm size is less than 1 hectare WSA, the admissible incentive shall be paid on pro-rata basis. For aquaculture systems other than farms such as cage culture, RAS, bio-flocs, raceways, etc. the incentive payable is 40% of premium. Maximum incentive payable is ₹ 1,00,000 and the maximum unit size eligible will be of 1800 m³. The benefit of 'one-time incentive' will be provided for aquaculture insurance purchased for 'one crop cycle' only. SC, ST and Women beneficiaries shall be provided an additional incentive @10% of the incentive payable for General Categories. To illustrate, for an aquaculture farm size of 1 hectare WSA, the limit of one-time incentive will be 27,500 in place of 25,000 and for farm size of 4 hectares WSA, the one-time incentive will stand at 1,10,000 in place of ₹ 1,00,000. The 'one-time incentive' amount will be paid in 'one go' (not in tranches) directly to the beneficiary through Direct Benefit Transfer (DBT) and not to the insurance company. Conditions for providing 'one-time incentive': Ponds located in different areas/survey numbers/revenue record 'One-time incentive' will be provided to applicants with WSA upto 4 hectares or maximum production unit size eligible will be of 1800 m³ Single unit / multiple units covered within the eligible production area of 4 hectares WSA or maximum production unit size eligible will be of 1800 m³ shall be eligible for the 'one-time incentive' only once for culturing either same or different species. Registration process Registration is to be done in National Fisheries Development Platform