Budget 2024: Shares of shrimp products makers in heavy demand after Budget allocation
The Hindu
Finance Minister boosts seafood industry with funding for shrimp farming and marketing, leading to stock surges for key companies.
Shares of producers and exporters of seafood products' firms jumped on July 23 after Finance Minister Nirmamala Sitharaman said the government will provide finance for shrimp farming and marketing.
Presenting the Union Budget for 2024-25, Sitharaman said that the government has reduced the basic customs duty on shrimp to 5%.
Also Read: Union Budget 2024 LIVE Updates
The stock of Zeal Aqua soared 9.27%, Kings Infra Ventures surged 8.15%, Coastal Corp climbed 7.55%, Apex Frozen Foods zoomed 7.51% and Waterbase jumped 5.51% on the BSE.
The government will bring a National Cooperation Policy for the overall development of the country, the finance minister said.
She said the Centre will promote digital public infrastructure for agriculture in partnership with states, while the Jan Samarth-based Kisan Credit Card scheme will be introduced in five states.
Also, the government will provide finance for shrimp farming and marketing, she added.
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