Sympathy waive: Maharashtra CM Fadnavis announces Rs 34,000-cr farm loan waiver

Maharashtra CM Devendra Fadnavis also said the government will tie up with banks to cope with the financial burden which would be repaid in instalments over four years.

Devendra Fadvanis — [representational image]Creative commons

Maharashtra Chief Minister Devendra Fadnavis on Saturday announced Rs 34,000 crore for the farmers and said the government will waive farm loans up to Rs 1.5 lakh. "Those farmers who have paid back their loans regularly, we will give 25 percent loan return benefit to them. We are aware of the burden that will fall on all cabinet ministers, they will cut our expenses. All ministers and MLAs will give one month salary to support loan waiver," he said.

Those farmers who have paid back their loans regularly, we will give 25% loan return benefit to them: Devendra Fadnavis, Maharashtra CM pic.twitter.com/Y9UORYSDmO
— ANI (@ANI_news) June 24, 2017

Fadnavis also said that this loan waiver will be a relief to as many as 89 lakh farmers from the state of which 40 lakh will be debt free.

Aware that the burden will fall on us, will cut our expenses. All ministers & MLAs will give 1 month salary to support loan waiver: Maha CM pic.twitter.com/jdHYGqIyT3
— ANI (@ANI_news) June 24, 2017

In addition to this, Fadnavis said the government will tie up with banks to cope with the financial burden which would be repaid in instalments over four years.