Maharashtra To Waive Farm Loans Up To Rs 1.5 Lakh, Make 40 Lakh ‘Debt-Free’

The BJP-led Maharashtra government on Saturday announced a major farm loan waiver scheme that will see debt of up to Rs 1.5 lakh per farmer being written off.

The scheme, announced by Chief Minister Devendra Fadnavis involves Rs 34,000 crore of relief.

Named after Maratha warrior king Shivaji Maharaj, the programme will benefit 89 lakh farmers and make 40 lakh agriculturists debt-free, Fadnavis said.

Also Read: Farm Loan Waiver To Dent Maharashtra’s Medium-Term Growth Prospects

Farmers in many parts of Maharashtra were on a war-path early this month, which disrupted supply of vegetables and other essentials to cities, including Mumbai.

They were demanding a loan waiver, which was backed by all political parties. The stir was called off after the government gave them a firm assurance on bringing in a comprehensive scheme to help the debt-pressed cultivators.

Also Read: In Charts: Maharashtra’s Farm Loan Crisis Worse Than It Appears