Interim Finance Minister Piyush Goyal, in his Budget speech on Friday, introduced the Kisan Samman Nidhi scheme for small and marginal farmers. Reacting to this, Kaveri Seed Company Ltd's share gained 3%, while those of Avanti Seed climbed 4%. Jain Irrigation and Monsanto India also gained 1%.
Further, for small farmers, Goyal introduced the direct income scheme. Under the scheme, farmers with less than two hectares will get Rs6,000 per year.
All farmers affected by severe natural calamities will get an interest subvention of 2% + timely repayment subvention of an additional 3% for the entire duration of the loan.
Meanwhile, Goyal also introduced a household scheme at a cost of Rs75,000cr. The scheme will benefit 12cr rural people