Maharashtra govt declares loan waiver of up to Rs 1.5 lakh per farmer

The BJP-led Maharashtra government on Saturday announced a major farm loan waiver scheme that will see debt of up to ₹ 1.5 lakh per farmer being written off.

The scheme, announced by Chief Minister Devendra Fadnavis at a press meet in Mumbai, involves ₹ 34,000 crore of relief.

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 earlier in June, 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 bringing in a comprehensive scheme to help the debt-pressed cultivators.