Around 56 lakh farmers will benefit from the loan waiver announced by Chief Minister Devendra Fadnavis during the budget session. The proposal of loan waiver up to Rs 2 lakh was cleared by the Cabinet during its meeting on Tuesday.
The loan waiver will come into force after the ensuing legislative Council elections.
Fadnavis had announced that loans up to Rs 2 lakh pending up to 30th September 2025 will be waived. Following the death of Deputy Chief Minister Ajit Pawar, who was also the Finance Minister, the budget was presented by Fadnavis himself. He is still holding the Finance Ministry. The loan waiver will be called Punyashlok Ahilyadevi Holkar Shetkari Karjamafi Yojana. Those who have repaid the loans regularly will be given ex-gratia encouragement money up to Rs 50,000. The loan waiver will affect the government treasury by about Rs 25,000 crore. The loan amount waived is about Rs 36.585 crores.
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