Shares of agriculture companies advanced after the Union Finance Minister Nirmala Sitharaman announced an Agriculture Accelarator Fund, will be set up to encourage agri-startups by young entrepreneurs.
Avanti Feeds (up 5.54%), Mangalam Seeds (up 5%), Bombay Burmah Trading Corporation (up 1.46%), Dhunseri Tea & Industries (up 0.99%) edged higher."Continuing our commitment to food security, we're implementing from 1 January 2023, a scheme to supply free food grain to all Antyodaya and priority households for one year under PM Garib Kalyan Ann Yojana," FM said.
Finance Minister Nirmala Sitharaman added that the government will launch the Atmanirbhar Clean Plant Programme to improve availability of disease-free quality planting material for high-value horticultural crops at an outlay of Rs 2,200 crore.
The government has also initiated computerisation for 63,000 primary agricultural credit societies with an investment of Rs 2,516 crore. The agriculture credit target has been expanded to Rs 20 lakh crore in FY24.
Finance Minister Nirmala Sitharaman is currently presenting the Budget 2023-2024 in Parliament. This is the final full-fledged budget of the Narendra Modi government before the general election next year.
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