Maharashtra govt announces mega farm loan waiver scheme

The BJP-led Maharashtra government today 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 at a press meet here, involves Rs 34,000 crore of relief.

Fadnavis further added that he was aware that the burden will fall on the governement and would cut expenses. All ministers & MLAs will give a month's salary to support loan waiver, ANI reported.

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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 brining in a comprehensive scheme to help the debt-pressed cultivators.