Maharashtra Govt Announces Farm Loan Waiver of Rs 34,000 Crore

Named after Maratha warrior king Shivaji Maharaj, the programme will benefit 89 lakh farmers.

Published24 Jun 2017, 12:10 PM IST
1 min read

Days after the farmers’ protest ended, Maharashtra Chief Minister Devendra Fadnavis on Saturday announced the largest farm loan waiver of Rs 34,000 crore for farmers in the state.

"The scheme will benefit 89 lakh farmers, making 40 lakh debt-free," he said.

Also, Fadnavis made another big announcement in this regard saying, “Those farmers who have paid back their loans regularly, we will give 25 percent loan return benefit to them.”

“Government is aware that the burden will fall on it, but we will cut our expenses. All ministers and MLAs will give 1 month salary to support loan waiver,” he added.

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

Farmers in many parts of Maharashtra were on a warpath 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.

So far states like Maharashtra, Karnataka, Uttar Pradesh, Madhya Pradesh and Punjab have announced loan waiver.

(With PTI inputs.)

We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated.

The Quint is now available on Telegram & WhatsApp too, Click here to join.

Stay Updated

Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.

Join over 120,000 subscribers!