Maharashtra CM Devendra Fadnavis announces Rs 34,000 crore farm loan waiver; MLAs to donate a month's salary

New Delhi: In a big relief to the farmers in the state, the Maharashtra Cabinet on Saturday announced to waive off a farm loan package of Rs 37,000 crore. 

The state Cabinet meeting chaired by Chief Minister Devendra Fadnavis finalised the farm loan waiver package today, as per PTI. 

"Maharashtra government has decided loan waiver of Rs 34,000 crores. We are waiving loans upto Rs. 1.5 lakhs completely," CM Devendra Fadnavis said while addressing a press conference today.

"We are aware that the burden will fall on us. We will cut our expenses. All the ministers and MLAs will give their one month salary to support the farm loan waiver," he added further.

After meetings with key leaders from opposition parties and officials of various state departments over the last two days, the government finalised the package which is expected to benefit over 65 lakh farmers.

At least thirty one lakh farmers with overdue loans and another 35 lakh who have not defaulted on their loans but have pending loans in the current fiscal, will be eligible for a waiver of up to Rs 1 lakh.

The package will also have a special scheme for farmers who have been regularly paying their dues.

“The package was approved by chief minister Devendra Fadnavis during our meeting on Saturday morning. We have apprised Shiv Sena chief Uddhav Thackeray and key opposition leaders about it. The final decision will be taken in the state cabinet on Tuesday,” Patil said after meeting Thackeray at his residence on Saturday.

Earlier on Thursday, Fadnavis and Patil had met NCP chief Sharad Pawar in Delhi.

Meanwhile, besides farmers’ outfits, even Congress has opposed the proposed upper cap of Rs 1 lakh as loan waiver per farmer.

The BJP-led government in Maharashtra agreed to waive farmers’ loans after protests by farmers’ outfits in various parts of the state.