Agriculture companies’ shares rise as Jaitley announces new measures

Shares of rural and agriculture companies are trading sharply up on measures suggested in Budget speech.

Shares of rural and agriculture companies are trading sharply up on measures suggested in the finance minister Arun Jaitley’s Budget speech.

Shares of rural and agriculture companies are trading sharply up on measures suggested in Budget speech.

At 11:20am, shares of Jain Irrigation was up 3.6% at Rs 58.10 on the BSE.

Shares of Finolex Industries, which makes pipes for use in irrigation, was trading up 1.1% at Rs 309.

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Union finance minister Arun Jaitley proposed large measures for agriculture sector and rural areas. The Budget proposed to spend Rs 86,500 crore in irrigation, Rs 5,500 crore for crop insurance and Rs 19,000 crore in Gram Sadak Yojana. Jaitley also proposed Rs 15,000 crore for interest subvention for farmers.