Maharashtra Announces Loan Waiver Of Up To Rs 2 Lakh For Farmers
A farmer in Maharashtra sits on a cart during a cattle fair (Photographer: Dhiraj Singh/Bloomberg)

Maharashtra Announces Loan Waiver Of Up To Rs 2 Lakh For Farmers

Bookmark

The Maharashtra government on Saturday announced a loan waiver of up to Rs 2 lakh for farmers, with a cut-off date of Sept. 30, 2019.

Chief Minister Uddhav Thackeray made the announcement in the Legislative Assembly here on the last day of the winter session of the legislature.

“Crop loans outstanding till Sept. 30, 2019, will be waived by my government. The upper ceiling for the amount is Rs 2 lakh. The scheme will be called Mahatma Jyotirao Phule loan waiver scheme,” Thackeray said.

Besides, a special scheme would be offered for the farmers who repay their loans on time, he said.

Thackeray heads a coalition government of the Shiv Sena, NCP and Congress.

Finance Minister Jayant Patil said the waiver would be unconditional, and details would be communicated by the chief minister’s office in due course.

Leader of Opposition Devendra Fadnavis alleged that the government had not fulfilled its original promise of full loan waiver.

He also said the Sena-led government failed to give assistance of Rs 25,000 per hectare to farmers who suffered losses due to unseasonal rain, a demand which Thackeray himself had made earlier before he became chief minister.

Fadnavis and other BJP MLAs then staged a walk-out in protest.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.