Farm loan waiver fulfils Mahayuti pre-poll promise: Fadnavis
Maharashtra Chief Minister Devendra Fadnavis on Friday said the announcement of a farm loan waiver scheme in the State Budget for 2026-27 fulfils a promise made by the Mahayuti parties ahead of the 2024 Assembly polls.
In his Budget speech, Fadnavis, who holds the finance portfolio, announced Punyashlok Ahilyadevi Holkar Shetkari Karjmafi Yojna, a loan waiver scheme for farmers under which crop loans of up to Rs 2 lakh till September 30, 2025, will be written off.
He announced a Rs 50,000 incentive for other eligible farmers who are regular in repayments of loans.
Later, talking to reporters, the CM said in the Budget, the capital expenditure has increased by 21 per cent — from Rs 93,000 crore to Rs 1,12,000 crore. This would lead to an increase in capacity building and strengthening basic infrastructure.
Fadnavis acknowledged that there was a “lot of stress”, but the Government has decided not to stop any scheme, an apparent reference to the Mukhyamantri Ladki Bahin Yojana, a direct cash transfer programme targeted at poorer women.
On the contrary, it has been decided to mobilise resources and increase capital expenditure, he maintained.
Giving details of the farm loan waiver, Fadnavis said the cut-off date for availing the benefit under the scheme is September 30, 2025.
“We have decided to waive farm loans up to Rs 2 lakh. We have also decided to give Rs 50 lakh (as an incentive) to those who pay loans regularly,” stated Fadnavis, who became the first CM of Maharashtra to present a Budget.
The farm loan waiver scheme fulfils a promise made by the Mahayuti parties ahead of the 2024 Assembly polls, he stressed.
The Mahayuti comprises the BJP, Shiv Sena and NCP.
He said the committee formed to study the loan waiver has started gathering information on the number of farmers requiring the credit relief.
As per the information gathered from banks, so far, the panel has received details of 28 lakh-30 lakh farmers. It will still take 15-25 days to compile the entire data, the CM stated.
“This will not be a restrictive loan waiver,” Fadnavis emphasised. There are 20 lakh accounts linked to farmers that have repaid loans regularly and are eligible for the Rs 50,000 incentive, the CM maintained.
