23 July,2024 01:50 PM IST | Mumbai | mid-day online correspondent
Representational Image. File Pic
After Finance Minister Nirmala Sitharaman said the government will provide finance for shrimp farming and marketing, shares of producers and exporters of seafood products' firms soared high on Tuesday.
The stock of Zeal Aqua jumped to 9.27 per cent, Kings Infra Ventures surged 8.15 per cent, Coastal Corp climbed 7.55 per cent, Apex Frozen Foods zoomed 7.51 per cent and Waterbase jumped 5.51 per cent on the BSE.Presenting the Union Budget for 2024-25, the finance minister announced a reduction in basic customs duty on shrimp to 5 per cent.
The government will bring a National Cooperation Policy for the overall development of the country, Sitharaman added.
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.
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Also, the government will provide finance for shrimp farming and marketing, she added.
The finance minister announced a bounty of schemes of the agriculture and fisheries sector, "Our government will undertake a comprehensive review of the
agriculture research setup to bring the focus on raising productivity and
developing climate resilient varieties."
Meanwhile, Stock market benchmarks Sensex and Nifty tanked after Finance Minister Sitharaman announced a hike in STT (Securities Transaction Tax) on F&O (Futures and Options) securities.
Presenting the Budget for 2024-25, she announced a hike in STT (Securities Transaction Tax) on F&O (futures and options) securities by 0.02 per cent and 0.1 per cent.
The 30-share BSE Sensex saw a temporary jump as soon as Finance Minister Nirmala Sitharaman began presenting the Budget for 2024-25 before slipping in the red and later plummeted 1,266.17 points to 79,235.91 during the afternoon trade.
Similarly, NSE Nifty also ticked higher as the finance minister began the presentation of her 7th Union Budget in the Lok Sabha. However, volatile trends soon came in and the benchmark later tanked 435.05 points to 24,074.20.
