Shares of agriculture-related stocks surged up to 10 per cent today after Finance Minister Arun Jaitley said that Budget 2018-19 will focus on strengthening agricultural and rural economy.
NACL Industries stock zoomed 9.64 per cent, PI Industries 6.49 per cent, Shakti Pumps India 5.89 per cent, Action Construction Equipment 5.66 per cent and Monsanto India 4.84 per cent on the BSE.
Among others, shares of
In a major bonanza to farmers, Finance Minister Arun Jaitley today announced fixing the
Presenting the Union Budget 2018-19, Jaitley reiterated the government’s commitment for the welfare of farmers stating that the emphasis is to generate higher income for farmers.
Prime Minister Narendra Modi has given a clarion call to double the farmers’ income by 2022, he added.
Jaitley said the government has decided to fix the minimum support price (MSP) of coming Kharif (summer sown) crops, which include maize, soyabean and pulses, at least one-and-half times the cost of production.
He said the MSPs of most of rabi (winter sown) crops have already been raised.