Shares of five companies in the aquaculture sector surged after the Finance Minister Nirmala Sitharaman proposed to increase the country's fish production.
Zeal Aqua (up 14.4%), Waterbase (up 5.58%), Apex Frozen (up 4.55%), Avanti Feeds (up 2.93%) and Coastal Corporation (up 2.66%) advanced.
Union finance minister Nirmala Sitharaman while presenting the Union Budget 2020-21 in Parliament today, 1 February 2020 underlined the government's focus to turn India into a hotspot for fish and aquatic products by proposing to raise fish production capacity to 200 lakh tonnes.
A separate Department has been constituted for the integrated development of fisheries. A special fund has been created to develop infrastructure related to the fishing industry.
The government is also planning to involve youth in fishery production extension work. They will be called 'sagar mitras'. For this, rural youths in coastal areas are being targeted under this. The Government has also proposed conservation of marine fishery.
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