Budget 2020: Push on doubling milk & fish production

In this Budget, the government has pushed the production of fish and targets to double the production to 200 lakh tonnes by FY23 with a total allocation of Rs 2 crore. The major stocks which are involved in such businesses are Apex Frozen Foods (up by 9 per cent), Avanti Feeds (up by 6 per cent), Venky’s India (up by 4 per cent) and Waterbase (up by 10 per cent), which have gained traction with this announcement in today’s trading session.

Under the dairy section, the government has announced to double the milk production by 2025. The major beneficiaries from this are Hatsun Agro Products (up by 1 per cent), Prabhat Dairy (down by 0.3 per cent) and Parag Milk Foods (down by 1 per cent).

Also, to procure perishable goods like milk, meat and fish, the government has announced ‘Kisan Rail’ under PPP model, which would be set up by Indian railways. The stocks under focus from this announcement are Container Corporation (up by 2 per cent) and Ircon International (up by 4 per cent).

With this boost given to fishery sector, the rural income would get enhanced. Also, India exports fish to almost 75 countries, which accounts to nearly 10 per cent of the total export. Hence, this budget announcement would further open new opportunities for the companies engaged in the fishery business.