Maharashtra govt announces farm loan waiver in 2026-27 budget; Ladki Bahin Yojana to continue

Mumbai, Mar 6 (PTI) The Maharashtra government on Friday announced crop loan waiver up to Rs 2 lakh for eligible farmers in the budget for 2026-27 and said Ladki Bahin Yojana will continue with adequate allocation for the scheme targeted at poorer women.

Chief Minister Devendra Fadnavis, who holds the finance portfolio, presented a Rs 7,69,467 crore state budget in the assembly, and said Maharashtra will become a USD 5 trillion economy by 2047.

He 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 for other eligible farmers who are regular in repayments of loans.

Fadnavis, who became the first chief minister of Maharashtra to present a budget, announced that the Mukhyamantri Majhi Ladki Bahin Yojana, launched in 2024 , will continue and the scheme, under which eligible women get Rs 1,500 per month, will be provided adequate funds.

He said villages with a population of more than 1,000 will be connected by concrete roads.

Fadnavis said revenue receipt is estimated at Rs 6,16,099 crore and revenue expenditure at Rs 6,56,651 crore.

Revenue deficit is estimated at Rs 40,552 crore, he said.

Fiscal deficit for 2026-27 is estimated at Rs 1,50,491 crore, he said, adding the government has been successful in keeping fiscal deficit below 3 per cent of the GSDP.

The CM maintained that the state's revenue deficit has consistently remained below 1 per cent of the GSDP.

Fadnavis fondly recalled former state finance minister Ajit Pawar, who passed away in an air crash in January. A befitting memorial will be set up for the late NCP leader, the CM added.

There were emotional scenes in the Lower House as Fadnavis stood up to present the budget. As he rose to begin the speech, members in the House raised slogans of 'Ajit Dada Amar Rahe', paying tributes to the late leader.

After Pawar’s death, Fadnavis has been holding the finance portfolio. PTI MR NR VT RSY