Budget 2023: Developments in the agriculture sector and Agri-stocks benefiting by the budget

The Indian economy has moved up in the past 9 years from the 10^th position to 5^th position in the list. The capital expenditure in the budget has increased from Rs 7.5 lakh crores in 2022-23 budget to Rs 10.5 lakh crores in budget 2023-24.

The budget 2023 announcments for the agriculture are noted below:

·         The government allocated 2,200 crores for high value horticulture (farming sector)

·         PM-KSIAN, PM-Fasal Bima Yojana and forming agriculture infrastructure

          fund have provided much needed support to the sector.

·         India is at the forefront of utilisation of millets

·         Agri accelerated fund will be set up to encourage Agri start-up in rural areas

·         Agriculture credit target will be increased from 18 lakh crores to 20 lakh crores

          up by 11 per cent.

·         New 6000 crores scheme to boost fisheries

·         1 crores farmer to adopt nature farming

·         PM PRANAM scheme to promote balanced use of fertilizers

·         10,000 bio input resources centre will be set up

Stocks that boosted the stock prices of the following companies:

Avanti Feeds (6 per cent), Nath Bio-Genes (4.22 per cent), Mangalam Seeds (5 per cent), Waterbase (14.31 per cent), Apis India (5 per cent), Kanel Industries (5 per cent)