Nation

Maharashtra CM announces Rs 34,000-crore debt relief to farmers

June 24, 2017 09:36 PM

Mumbai : The Maharashtra government has announced a farm loan waiver amounting to Rs 34,000 crore. Called the Chatrapati Shivaji Maharaj Krishi Samman Yojana, loans up to Rs 1.5 lakh rupees of individual farmers that were taken before July 2016 will be waived, Chief Minister Devendra Fadnavis announced at a press conference here today.

The loan waiver will cost the state government Rs 34,000 crore and benefit 89 lakh farmers in the state, Fadnavis said. The scheme will make 40 lakh agriculturists debt-free. Providing some details about the scheme, Fadnavis said farmers who have regularly repaid their loans in the past would receive a payback of 25 per cent as incentive of their loans. “We would like to ensure that even farmers who have regularly repaid their loans also enjoy the benefits,” Fadnavis said. He added that the details on the loan waiver scheme would be made available shortly. 

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