The Maharashtra government has decided to take the help of software previously used by the Telangana government to ensure that the state government’s Rs 34,000 crore farm loan waiver will not benefit farmers who are deemed ineligible for the waiver. The Maharashtra government is also planning to establish an auditing and monitoring mechanism to weed out rich and ineligible farmers while disbursing the loan amount. A source has told The Indian Express that, the state government will issue detailed guidelines to all financial institutions and nodal departments engaged in monitoring the loan waiver. A government official has also told The Indian Express that the government has provided national, commercial and district-level cooperative banks the eligibility parameters for the loan waive.
The Maharashtra government had announced a Rs 34,000 farm loan waiver, which is the biggest farm loan waiver till date. 89 lakh of the 1.36 crore farmers are likely to benefit from the farm loan waiver. The total farm loan of the 1.36 crore farmers in Maharashtra stands at Rs 1.14 lakh crore. Apart from waiving off the loans of these farmers, the state government will also provide 35 lakh farmers who have been regularly paying off their loans with Rs 25,000, according to an Indian Express report.
Maharashtra’s farm loan waiver of Rs 34,000 crore is the biggest loan waiver by any state government. Previously, the Andhra Pradesh government had doled out a waiver of Rs 20,000 crore, Telangana and Punjab have waived off farm loans worth Rs 10,000 crore and Karnataka had waived off a farm loan worth Rs 8,000 crore.