While the movements in stocks likely to benefit from the proposals were not very significant, they were broadly relative outperformers for the day. Budget proposalsTwo key proposals laid down in the budget are likely to help these companies in the short to medium term. India exported sea foods worth Rs 60,000 crore in the last financial year and the above move will only provide further boost to the industry. Second, The proposal to provide financial support for setting up a network of Nucleus Breeding Centres for Shrimp Broodstocks is yet another big positive for the seafood industry. Also, the Government has also announced that financial support for shrimp farming, processing and export will be facilitated through NABARD.

Source: The Hindu July 23, 2024 16:51 UTC