Five stocks gained after positive measures announced by Nirmala Sitharaman in her Budget Speech.
Union finance minister Nirmala Sitharaman while presenting the Union Budget 2020-21 today, 1 February 2020 said that farm markets need to be liberalised.
FM Nirmala Sitharaman said that the government is committed to the goal of doubling farmers income by 2022. Government will incentivize farmers to go solar. Pradhan Mantri Kisan Urja Suraksha Utthan Mahabhiyan (PM KUSUM) will be expanded to provide 20 lakh farmers in setting up standalone solar pumps. FM's action plan to ease India's water problems starts with helping 100 districts. Government has insured 6.11 crore farmers under Pradhan Mantri Fasal Bima Yojna.
"We will encourage balanced use of all fertilizers, a necessary step to change the incentive regime which encourages excessive use of chemical fertilizers," FM said. Govt will build a seamless national cold supply chain for perishables, Indian Railways will set up Kisan Rail through PPP model so that perishable goods can be transported quickly. Krishi Udaan will be launched by MoCA on international and national routes.
Jain Irrigation Systems (up 4.99%), Hindustan Unilever (up 2.02%), Escorts (up 1.19%), Mahindra & Mahindra (up 1.74%) and ITC (up 0.28%) edged higher.
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