Farmers in Maharashtra will be allowed to repay their farm loans with 0% interest and the amount will be borne by the Government, Deputy Chief Minister Ajit Pawar said on Monday while presenting the budget in the assembly. Pawar said the move is aimed at increasing the income of farmers. “Farmers can now repay their farm loans with 0% interest. The interest amount will be borne by the government. No interest will be charged on crop loans amounting up to 3,00,000,” Pawar said.
Pawar said the announcements have been made to express the Maharashtra Government’s gratitude to the farmers. “We want to express our gratitude to farmers and the State Government is committed to increasing the income of farmers,” he said.
During the budget presentation, Pawar also said the Government has taken measures to encourage women to invest in real estate. The Deputy Chief Minister introduced a measure allowing home buyers to get a waiver of 1% on stamp duty if a house is purchased solely in the name of women. “As part of the women empowerment initiative, if a house purchased under the name of a woman, the buyer can then avail a discount in stamp duty. The state government will give concessions on stamp duty if any house is purchased solely in the name of the woman. This is to encourage them to become homeowners,” Pawar said.
Pawar also announced that women in rural areas can travel free on state transport buses in rural areas. He also announced that the fiscal deficit of the state for the financial year 2021-2022 is pegged at 10,226 crore. The State also allocated 9,573 crore for coastal road development between Revas in Raigad and Redi in Sindhudurg. A high-speed railway project has also been approved between Mumbai and Nashik. The project which is worth 16,039 crore will be partially funded by the state government. The high-speed trains will run at 200kmph. The state also has allocated 400 crore for constructing a Bal Thackeray Memorial in Mumbai.