Irrigation, Fertiliser Stocks Gain as Budget Focuses to Boost Agri Output

Irrigation and fertiliser sector stocks gained on Monday as Finance Minister Arun Jaitley's proposed to increase agriculture output of the country. 

Jain Irrigation Systems, a leading player in the irrigation sector jumped as much as 4 per cent while seed and fertiliser companies like Monsanto India, Kaveri Seeds, Aries Agro, Advanta India rose between 1-4 per cent each. 

Arun Jaitley proposed to allocate Rs 35,984 crore in FY17 for agriculture and farmer welfare and Rs 17,000 crore for irrigation schemes in FY17. 

The government aims to double income of farmer in five years.