The Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) is a Central Sector Sub-scheme under the ongoing Pradhan Mantri Matsya Sampada Yojana (PMMSY), implemented by the Department of Fisheries, Ministry of Fisheries, Animal Husbandry & Dairying for the period FY 2023–24 to FY 2026–27 with an outlay of ₹6,000 crore.
Under this scheme, farmers are provided a one-time incentive for aquaculture insurance. What is the incentive rate and maximum ceiling per farmer under this provision?​

Correct option is C

Under PM-MKSSY, farmers receive a one-time incentive of 40% of the premium paid for aquaculture insurance, subject to a ceiling of ₹25,000 per hectare and a maximum of ₹1 lakh per farmer for farms up to 4 hectares WSA. For intensive aquaculture systems (such as cage culture, RAS, bio-floc, raceways), the same 40% incentive applies, capped at ₹1 lakh per farmer for 1,800 m³.

Knowledge Booster:

• SC/ST and women beneficiaries are entitled to an additional 10% incentive.

• The National Fisheries Digital Platform (NFDP) was launched on 11 September 2024 to formalize the fisheries sector, enable credit access, incentivize aquaculture insurance, and strengthen fisheries cooperatives.