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  1. Big relief to Maharashtra farmers, Devendra Fadnavis government approves Rs 34,000 cr loan waiver; MLAs to donate 1 month salary

Big relief to Maharashtra farmers, Devendra Fadnavis government approves Rs 34,000 cr loan waiver; MLAs to donate 1 month salary

Maharashtra government waived off farmers' loans up to Rs.1.5 lakhs completely.

By: | New Delhi | Updated: June 24, 2017 4:36 PM
Maharashtra farmers protest, maharashtra farmers loan waiver, Devendra Fadnavis, farmers loan waiver, farmers loan, farmers protest, maharashtra The move is expected to benefit 19 lakh farmers of the state. (Photo: ANI)

In a big relief to Maharashtra farmers, Devendra Fadnavis led state Cabine has approved Rs 34,000 crore loan waiver. Announcing the big development on Saturday, Maharashtra CM Devendra Fadnavis said, “Government decided loan waiver of Rs. 34,000 crore, we are waiving off loans up to Rs.1.5 lakhs completely.” Also, Fadnavis made another big announcement in this regard saying, “Those farmers who have paid back their loans regularly, we will give 25% loan return benefit to them.” Moreover, Fadnavis said, “Government is aware that the burden will fall on it, will cut our expenses. All ministers and MLAs will give 1 month salary to support loan waiver.”

Agriculture experts see this a major relief to farmers of the state. The big announcement was made as the state was witnessing several protests over the agricultural crisis.

Earlier on Friday, Union Urban Development Minister Venkaiah Naidu had said that seeking loan waiver has become a “fashion” now but it is not the final solution and should be considered in extreme situations. Farmers in Maharashtra, Madhya Pradesh, Haryana, Rajasthan, Punjab, Uttar Pradesh and Odisha recently protested over various issues concerning them, including the demand for waiving off their loans. “Seeking loan waiver has become a fashion these days. But waiving off loans is not the final solution and it should be considered in extreme situations,” said Naidu. He said farmers need to get good remunerative price for their produce and care should also be taken of those in distress.

“Most importantly we should create adequate infrastructure and facilities like godowns, cold storage, refrigerator vans, among others. Also, we will have to ensure that affordable credit is available to these farmers,” Naidu said.

So far states like Maharashtra, Karnataka, Uttar Pradesh, Madhya Pradesh and Punjab have announced loan waiver.

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