Maharashtra Unveils Ambitious Loan Waiver and Development Plans

Maharashtra's Chief Minister, Devendra Fadnavis, unveiled an array of financial measures and initiatives in the state's 2026-27 budget. Chief among these is the Punyashlok Ahilyadevi Holkar Shetkari Karjmafi Yojna, a significant farm loan waiver scheme targeting loans up to Rs 2 lakh, fulfilling a promise made by the Mahayuti alliance ahead of the 2024 assembly polls.

Fadnavis emphasized a substantial 21% increase in capital expenditure, boosting the state's infrastructure capacity. Despite financial strain, the government will sustain critical welfare schemes like the Mukhyamantri Ladki Bahin Yojana, aiming to mobilize resources effectively. Additionally, an Rs 50,000 incentive is offered to farmers maintaining regular loan repayments.

Efforts to maintain fiscal discipline were highlighted, keeping fiscal and revenue deficits within the stipulated norms of the Fiscal Responsibility and Budget Management (FRBM) Act. Visionary projects include increasing the forest cover to 33% and introducing schemes for Adivasi student welfare, reflecting a comprehensive developmental roadmap for the state.