In a big relief to the farmers in the state, the Maharashtra Cabinet on Saturday June 24,2017 announced to waive off a farm loan package of Rs 37,000 crore.
The state Cabinet meeting chaired by Chief Minister Devendra Fadnavis finalised the farm loan waiver package today, as per PTI.
"Maharashtra government has decided loan waiver of Rs 34,000 crores. We are waiving loans upto Rs. 1.5 lakhs completely," CM Devendra Fadnavis said
"We are aware that the burden will fall on us. We will cut our expenses. All the ministers and MLAs will give their one month salary to support the farm loan waiver," he added further.
After meetings with key leaders from opposition parties and officials of various state departments over the last two days, the government finalised the package which is expected to benefit over 65 lakh farmers.
At least thirty one lakh farmers with overdue loans and another 35 lakh who have not defaulted on their loans but have pending loans in the current fiscal, will be eligible for a waiver of up to Rs 1 lakh.
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