Devendra Fadnavis Unveils Major Farmer Loan Waiver in Maharashtra Budget
Maharashtra CM Devendra Fadnavis announced a loan waiver for farmers, wiping off crop loans up to Rs 2 lakh by 2025. The state budget also includes plans for women's programs and infrastructure. A memorial will honor the late Ajit Pawar, former finance minister.
- Country:
- India
Maharashtra Chief Minister Devendra Fadnavis revealed a significant farmer loan waiver scheme during the state budget presentation, targeting crop loans up to Rs 2 lakh to be cleared by 2025. Dubbed the Punyashlok Ahilyadevi Holkar Shetkari Karjmafi Yojna, the program promises remarkable relief for farmers.
In addition to the loan waiver, Fadnavis introduced a Rs 50,000 incentive for farmers who adhere to regular loan repayment schedules. The budget, marking Fadnavis's debut presentation as Chief Minister, also sustains the Mukhyamantri Majhi Ladki Bahin Yojana for women, ensuring continued funding for the initiative.
The announcement coincided with a touching tribute to Ajit Pawar, the late state finance minister, with Fadnavis pledging to erect a memorial in his honor. In finance news, Maharashtra is charting a course to become a USD 5 trillion economy by 2047.
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