In line with the finance minister’s Union Budget announcement, the government is to finance shrimp farming and marketing.
Producers and exporters of seafood products ‘companies’ share prices jumped on July 23 after Finance Minister Nirmamala Sitharaman said there would be finance for shrimp farming and marketing from the government.
While presenting the union budget for 2024-25, Sitharaman said that shrimp had been reduced to a basic customs duty of 5% by her government.
On BSE, Zeal Aqua stock rose 9.27%, Kings Infra Ventures surged 8.15%, Coastal Corp climbed 7.55%, Apex Frozen Foods zoomed 7.51% and Waterbase jumped up by 5.51%.
The finance minister pointed out that a national cooperation policy will be introduced in order to foster overall development of India’s economy.
According to her, Centre will help states develop digital public infrastructure for agriculture while Jan Samarth based Kisan Credit Card scheme is going to start in five states.
Furthermore, there will be funding support from the government for shrimp farming and marketing according to her.
“Finance minister Nirmala Sitharaman extended her support through financing of shrimp production and marketing towards overall growth of this industry,” T Manish who is an Equity Research Analyst at SAMCO Securities added.
