Fertiliser stocks were under pressure after Finance Minister Nirmala Sitharaman said the farmers should go back to 'zero-budget farming'. Madras Fertilisers, National Fertilisers, Chambal Fertilisers, Mangalore Chemicals, Rashtriya Chemicals & Fertilisers, Aries Agro, Gujarat Narmada Valley Fertilizers and Nagarjuna Fertilisers fell between 2 and 9.5 percent after the announcement.
Madras Fertilisers fell the most, down 9.6 percent followed by Aries Agro which slid 6 percent and National Fertiliser which was down 5.5 percent. Meanwhile, Rashtriya Chemicals & Fertilisers declined 4 percent and Mangalore Chemicals lost 3.3 percent.
During the Budget presentation Sitharaman said that ease of doing business and ease of living should apply to farmers too. And she emphasised the need to go back to 'zero-budget farming' to help double farmers' income.
Zero-Budget Natural Farming (ZBNF) is a set of farming methods, and also a grassroots peasant movement, which has spread to various states in India. Zero-Budget Natural Farming, as the name implies, is a method of farming where the cost of growing and harvesting plants is zero.
In the method, the farmers need not purchase fertilizers and pesticides in order to ensure the healthy growth of crops. Under this method, chemical fertilizers and pesticides make way for locally available cow dung and cow urine, jaggery, and pulse flour, among other natural materials.
"We need to replicate this innovative model. We will invest widely in
agri-infrastructure and support private entrepreneurship in driving value addition to farmers produce and those from allied activities too, like bamboo, timber and for generating renewable energy, the finance minister in her Budget speech.
First Published: Jul 5, 2019 2:32 PM IST
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