Devendra Fadnavis promises to waive Rs 34,000 crore in farmer loans, ministers and MLAs to chip in

On Saturday, Maharashtra Chief Minister Devendra Fadnavis announced that the state government has decided to waive loans to the tune of Rs 34,000 crore.  He said that the government would waive loans up to Rs 1.5 lakh completely. He further added that farmers who paid back their loans regularly, the state government would give 25% loan return benefit to them. He added: “Aware that the burden will fall on us, will cut our expenses. All ministers & MLAs will give 1 month salary to support loan waiver.”

He added: “Aware that the burden will fall on us, will cut our expenses. All ministers & MLAs will give 1 month salary to support loan waiver.” Fadnavis said the scheme will benefit 89 lakh farmers and make 40 lakh of them debt-free.   The scheme is going to be named Chhatrapati Shivaji Maharaj Krishi Sanman Yojana. 

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.