Indian Agriculture Shares Jump After Government Unveils Major Farmer Support Plan
Agriculture stocks jumped on Saturday following the announcement by Finance Minister Nirmala Sitharaman of the PM Dhan-Dhaanya Krishi Yojana, which will assist 1.7 crore farmers in 100 districts with low productivity, moderate crop intensity, and below-average credit characteristics.
- Shares of Kaveri Seed Company surged 13% to ₹1,021.70 on the NSE, while Mangalam Seeds increased 13% to ₹238.80 on the BSE.
- The stock of Nath Bio-Genes jumped 3.32 percent to ₹174.75 at 1:15 PM, while UPL shares were unchanged at ₹601.25.
- At ₹119.86, Paradeep Phosphates’ stock increased 6%.
Furthermore, the stocks of Mangalore Chemicals & Fertilizers, PI Industries, Bayer Crop Science, and Rashtriya Chemicals & Fertilizers increased significantly.
NCCF & Nafed to Purchase Pulses as Part of India’s Self-Sufficiency Drive
A multisectoral program called Rural Prosperity and Resilience was also addressed by the FM. Its goal is to alleviate underemployment in agriculture by boosting the rural economy, investing in technology, and skilling people. Sitharaman said that NCCF and Nafed (National Agricultural Cooperative Marketing Federation of India) will purchase pulses during the next four years as part of the six-year Mission for Aatmanirbharta in Pulses initiative, which will concentrate on Tur, Urad, and Masoor. Additionally, a thorough program will be introduced to produce fruit, raise vegetables, and offer competitive prices.
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