Maharashtra Chief Minister Devendra Fadnavis declared that a complete farm loan waiver program would be implemented by June 30, 2026, with the goal of paying off agricultural loans up to Rs 2 lakh for qualified farmers. Over 51 lakh farmers will benefit from the initiative, which aims to alleviate agricultural stress caused by El Niño weather cycle forecasts.
"We are announcing the farm loan waiver by 30th June," he said at a press conference, adding that the impending MLC elections would not prevent the loan waiver program from being implemented. According to Fadnavis, they will be qualified for the following cycle.
"Since the decision was made before the announcement of the elections, the MLC elections cannot be a barrier to farm loan waivers. Additionally, farmers won't be impacted because the voters are local bodies' representatives. However, if necessary, we will ask the Election Commission for authorisation," news agency ANI quoted him as saying.
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The Chief Minister also stated that the government has started preparations to lessen the effects of El Niño conditions, which could have an impact on Maharashtra's impending kharif season.
"This year's largest obstacle to the state's kharif season is El Niño. Planning to lessen the situation is our priority," he stated.
Fadnavis predicts that this year's rainfall will continue to be below average, which would force the administration to step up water conservation efforts throughout the state.
"This year's rainfall is predicted to be minimal and in a decreasing pattern. We have been instructed to finish the Jalyukta Shivar projects quickly this year. "Every district has been prepared to deal with the El Niño effect," he stated, urging people to use water as efficiently as possible to sustain the agricultural cycle.
Dr Pravin Kumar, a meteorologist at the Regional Meteorological Centre (RMC) in Nagpur, issued a warning earlier on Wednesday that Vidarbha would see extreme heatwave conditions over the next few days.
In India, loan waivers are government-sponsored debt relief initiatives that mainly assist struggling farmers who are affected by natural disasters or crop failures. State or federal budgets cover the repayment obligation, directly compensating banks.
Farmers are the focus of most waivers. Relief can take the form of interest waivers, partial waivers (relief up to a predetermined ceiling, say Rs 1-2 lakh), or complete waivers (total debt write-off).
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