The Department of Fisheries, Government of India under the erstwhile Centrally Sponsored Scheme (CSS) “Blue Revolution: Integrated Development and Management of Fisheries” implemented during 2015-2020, had approved proposals of coastal States/UTs with a total project cost of Rs. 734.40 crore for acquisition of a total 918 deep-sea fishing vessels for traditional fishermen. Subsequently, the Department of Fisheries, Government of India had launched the flagship scheme namely “Pradhan Mantri Matsya Sampada Yojana (PMMSY)” with a vision to bring Blue Revolution through sustainable and responsible development of Fisheries sector in India with an investment of ₹20050 crore in fisheries sector for a period of 5 years (2020-2025). PMMSY inter alia provides financial assistance for acquiring deep sea fishing vessels by traditional fishermen at the unit cost of Rs. 1.20 crore, as well as for upgradation of existing fishing vessel for export competency with the unit cost of Rs. 15 lakh; wherein 40% subsidy is provided to general category beneficiary and 60% subsidy is provided to SC/ST/Women beneficiaries. The Department of Fisheries, Government of India under PMMSY, during last three years (2021-22 to 2023-24) has approved the proposals to the tune of Rs. 554.25 crore for acquiring of 349 deep-sea fishing vessels by traditional fishermen and upgradation of 903 existing fishing vessel for export competency.