Budget announcement will boost the drone industry - RattanIndia Enterprises

RattanIndia Enterprises Ltd. welcomes the announcement made by the Hon'ble Finance Minister Mrs. Nirmala Sitharaman in FY 22-23 Budget speech for promoting the start-ups to facilitate the 'Drone Shakti' scheme through varied applications and for Drone-As-A-Service (DrAAS). This will help in integration of aviation technology in the agriculture sector and will open immense opportunities and benefits to entire agriculture and farm produce value chain and eco system.

As per the budget speech of Hon'ble Finance minister, Agri-tech fund will be introduced through NABARD to promote the use of 'Kisan Drones' for crop assessment, digitization of land records, spraying of insecticides, and nutrients. This will also provide employment opportunities for youth, start-ups and will make Indian industries more efficient and competitive.

The Govt. of India has been taking regular steps to support the Drone industry. In 2021, govt has introduced liberalised Drone Rules, immediately after that Production linked incentive scheme was announced, few days later policy on agriculture drones, grants schemes for agriculture drones and insecticide types and their uses and standard operating procedures for spraying were declared and recently in January 2022, drone type certification policy was also announced.

Drone Industry acknowledges the continuity of the progressive actions and policies by govt which have given opportunities to the drone industry to flourish and grow. Drones are set to transform core sectors of the economy including logistics, agriculture, mining, infrastructure, surveillance, emergency response, transportation, geo-spatial mapping, defence, and law enforcement.

Commenting on the budget announcement made by the Honourable Finance Minister, Mrs Anjali Nashier, Business Chairperson RattanIndia Enterprises Ltd, said that "I thank the Government for a positive and evolving progressive policies introduced in Drone sector. This announcement will be a big boost to the sector. Large scale usage of "Kisan drones" in crop assessments, land records and spraying of insecticides will encourage drone industry and its growth".

Shares of RattanIndia Enterprises Limited was last trading in BSE at Rs. 54.10 as compared to the previous close of Rs. 52.75. The total number of shares traded during the day was 438587 in over 3336 trades.

The stock hit an intraday high of Rs. 55.00 and intraday low of 52.50. The net turnover during the day was Rs. 23541108.00.

Source : Equity Bulls

Keywords

RattanIndiaEnterprises INE834M01019 DrAAS DroneAsAService DroneShaktiScheme