The scheme, launched in partnership with state governments, is set to cover 100 districts and aims to benefit 1.7 crore farmers. It is designed to generate economic opportunities in rural areas, reducing the need for migration and promoting local employment.
Key agricultural companies saw significant gains following the news, with Kaveri Seed Company rising 7.32%, Mangalam Seeds climbing 8.49% and Coromandel International increasing by 1%. Other notable performers included Nath Bio-Genes (India) up 1.63%, PI Industries up 1%, and UPL, which gained 1.28%.
Finance Minister Nirmala Sitharaman is currently presenting the Union Budget 2025-26 in the Lok Sabha today, marking the Modi government's second budget in its third term. This will be Sitharaman’s eighth consecutive budget since 2019.
The budget session will take place in two phases: the first part runs until February 13, while the second session will be held from 10 March 2025 to 04 April 2025.