Finance Minister Arun Jaitley announced
in his Budget speech on Thursday that Regional air connectivity scheme will
connect 56 unserved airports and 31 unserved helipads. Goveernemnt will also
expand capacity of airports by 5- times to cater to one billion trips a year, under
a new initiative by the government.
Subsequent on the announcement, stocks
of aviation companies such as Jet Airways, Inter Globe Aviation and Spice Jet
closed in positive territory. Stocks of Jet Airways gained 2.57% on National
Stock Exchange, whereas the shares of Inter Globe Aviation (IndiGo) zoomed
marginally by 0.42% on NSE, on Thursday.
In a top reward to farmers, Jaitley announced
fixing the support-price for kharif crops, by 50 per cent higher than
the cost of production, together increasing farm credit target for the next fiscal
by ten percent to Rs 11.00 lakh crore.
Following the announcement, shares of
NACL Industries zoomed, 2.25%, PI Industries rose 2.49%, Action Construction
Equipment spiked 2.59%, Aries Agro rose 0.28% and Monsanto India zoomed 1.81% on
the NSE.
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