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Maharashtra's Budget: Promises Unfulfilled, Challenges Ahead
The scheme will waive crop loan arrears up to Rs 2 lakh for 28-30 lakh farmers and includes up to Rs 50,000 incentives for 20 lakh regular repayers, costing Rs 35,000 crore.
- On Friday, March 6, 2026, Maharashtra Chief Minister Devendra Fadnavis announced the Punyashlok Ahilyadevi Holkar Farmer Debt Waiver Scheme, waiving overdue crop loans up to Rs 2 lakh for eligible farmers.
- The decision reflected political and policy motives, as Fadnavis said the scheme aims to relieve stressed farmers and fulfill a pre-election promise of the BJP-led Mahayuti alliance, about 15 months after the government came to power.
- Using Agristack, Aadhaar, and bank data, officials said it will take about one-and-a-half months to build the digital architecture, with banks having submitted data on around 28-30 lakh farmers.
- The state warned of fiscal impacts, noting officials estimate the waiver will cost about Rs 50,000 crore, adding pressure amid a revenue deficit of Rs 40,552 crore.
- Looking to the future, officials stress that the package sits alongside a long-term goal to expand agricultural GDP from $55 billion to $500 billion by 2047, with Rs 262,000 crore invested in infrastructure and over 70,000 jobs created, even as debt is projected to reach Rs 11,02,654 crore.
18 Articles
18 Articles
Maharashtra's Budget: Promises Unfulfilled, Challenges Ahead
Maharashtra's Budget: Promises Unfulfilled, Challenges Ahead Senior NCP (SP) leader Jayant Patil criticized the Maharashtra government's budget, unveiled by Chief Minister Devendra Fadnavis, for lacking significant support for farm loan waivers, rural development, and social welfare. Patil voiced his concerns in the state assembly, accusing the ruling Mahayuti coalition of falling short of its promises, particularly to farmers.The presented budg…
Fadnavis presents ₹7.69 lakh crore Maharashtra Budget, loan waiver for farmers
The Budget proposes a ninefold growth of the agricultural economy, aiming to raise the sector’s GDP from $55 billion to $500 billion by 2047. The State’s revenue receipts are estimated at around ₹6.56 lakh crore, resulting in a revenue deficit of about ₹40,500 crore.
Fadnavis presents budget, announces loan waiver for farmers
Mumbai, Mar 6 (PTI) Maharashtra Chief Minister Devendra Fadnavis on Friday announced a loan waiver scheme for farmers, wherein crop loans of up to Rs 2 lakh till September 30, 2025 will be written off. The Punyashlok Ahilyadevi Holkar Shetkari Karjmafi Yojna will benefit farmers, Fadnavis said, adding there will be a Rs 50,000 incentive […]
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