Agri Stocks Surge as New PM Dhan-Dhaanya Krishi Yojana Unveiled

Shares of agriculture companies soared after Finance Minister Nirmala Sitharaman announced the PM Dhan-Dhaanya Krishi Yojana, set to benefit farmers in 100 districts. The scheme includes low-yield areas and promises to enhance modern crop intensity and credit facilities, impacting company shares across the sector.

Shares of agricultural companies surged up to 13% on Saturday following the announcement of the PM Dhan-Dhaanya Krishi Yojana by Finance Minister Nirmala Sitharaman. This new initiative includes 100 districts characterized by low yields and aims at improving modern crop intensity and credit parameters.

The biggest gainer was Kaveri Seed Co, with share prices rising by 13.49% to Rs 1,020.70. Other notable increases included Mangalam Seeds, Nath Bio-Genes, and Dhanuka Agritech, reflecting the market's positive response. However, stocks like Chambal Fertilisers & Chemicals saw declines.

Sitharaman, during her record eighth consecutive budget, also introduced plans for a rural prosperity program emphasizing youth, women, and farmers. The government intends to boost farm resilience, modernize agriculture, and achieve self-reliance with new programs aimed at pulses and vegetable production.

(With inputs from agencies.)