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Maharashtra announces one of the biggest loan waiver for farmers worth 34,000 crore

In a major development, the Maharashtra government has announced one of the biggest loan waiver scheme for farmers. The loan waiver announced by Maharashtra government is worth Rs 34,000 crore and it will cover all loans up to Rs 1.5 lakh. The Maharashtra government has decided to name the loan waiver scheme as Chhatrapati Shivaji Maharaj Krishi Samman Yojana. Maharashtra Chief Minister Devendra Fadnavis said today that the massive loan waiver scheme will not be an easy task for the state government and everyone has to contribute to make it possible. Fadnavis said that all the ministers and MLAs have already decided to donate their one month’s salary to support the loan waiver scheme. Similarly, the government will have to significantly cut down its costs to support the loan waiver scheme.

The loan waiver scheme launched by Maharashtra will benefit around 19 lakh farmers in Maharashtra. The Maharashtra government has also decided to give incentives to farmers who have been regular in paying their loans. Speaking about the incentive scheme, Fadnavis said, “Those farmers who have paid back their loans regularly, we will give 25 per cent loan return benefit to them.”

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