Mumbai, March 6 (NationPress) The Mahayuti administration has made a significant move by announcing a loan waiver of up to Rs 2 lakh for farmers, thereby upholding its commitment made during the 2024 Assembly elections.

During the presentation of the state Budget in the Legislative Assembly, Chief Minister Devendra Fadnavis introduced the 'Punyashlok Ahilyadevi Holkar Shetkari Karjmafi Yojana' aimed at farmers with outstanding crop loans as of September 30, 2025.

Farmers qualifying for this initiative are set to receive a loan waiver reaching Rs 2 lakh.

Moreover, an incentive of up to Rs 50,000 has been proposed for those who consistently repay their loans. This initiative is anticipated to deliver substantial relief to a vast number of farmers throughout the state.

The state government had pledged to enact a loan waiver scheme during the Assembly election campaign. However, due to implementation delays, a significant protest occurred in Nagpur in October 2025 under the leadership of Bacchu Kadu, President of the Prahar Janshakti Party, demanding the announcement of a specific date for the waiver.

In response, the government arranged a meeting in Mumbai, assuring farm leaders, including Bacchu Kadu, Raju Shetti, and Ajit Nawale, that a waiver would be announced by June 30, 2026.

A committee headed by Dr Praveen Pardeshi was established to assess the implementation.

Following the recommendations from this committee, the state government has made this decision.

Chief Minister Fadnavis noted that the government is also prioritizing long-term strategies to prevent farmers from reverting into debt cycles.

Recommendations from the Pardeshi Committee will be executed in phases.

Efforts are being made to fortify the state's banking framework to enhance credit accessibility. The government is evaluating points from the committee's report to ensure more transparency in loan distribution and recovery processes. This decision is predicted to significantly bolster the rural economy and provide essential support to distressed farmers.

With this waiver announcement, the Mahayuti government is perceived as having upheld its commitment to the agricultural sector.

The state's agricultural GDP is projected to rise from $55 billion to $500 billion by 2047.

With farmers at the core, an integrated value chain will be established for 10 to 15 crops, aimed at providing a global market for agricultural products.

The objective is to develop a comprehensive ecosystem for farmers through Agristack, Mahavedh, MahaDBT, and other digital platforms, facilitating easier access to services.

"Currently, Maharashtra leads the nation in the adoption of Artificial Intelligence (AI) and digital farming. Over 30 lakh farmers are receiving precise information regarding weather forecasts, crop guidance, and market prices through the Maha-Vistaar Platform. This platform serves as a true 'Digital Companion' for farmers. Additionally, for tribal farmers, we have included the Dehvali Bhili language in 'Maha-Vistaar'," he explained.

"Soon, other prominent tribal languages will also be integrated. For farmers lacking smartphones, we have initiated the 'Vasudha' voice service, providing advice on crop health and pest management via phone calls. Artificial Intelligence Innovation and Incubation Centers are being set up across all four agricultural universities, along with an Agriculture Data Exchange and Sandbox within the state. This will significantly enhance agri-startups. These modern technologies are projected to reduce agricultural production costs by up to 25%, greatly enhancing farmers' incomes," he added.

Under the Krishi Samrudhi Yojana, infrastructural development will be prioritized by increasing capital investment in the agriculture sector over the next four years from 2026-27 to 2029-30.

"To produce healthy and nutritious natural agricultural products, we will implement the new 'Maharashtra Natural Farming Mission' scheme over the next two years, bringing 5 lakh hectares under natural farming. Farm laborers will also be incorporated into the Gopinath Munde accident ex-gratia grant scheme," the CM stated.