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

Fadnavis made the announcement while presenting the state budget for 2026-27 in the assembly, becoming the first chief minister of Maharashtra to table the budget.

The Mukhyamantri Majhi Ladki Bahin Yojana for women will continue, and will be provided adequate funds, Fadnavis said.

All villages in Maharashtra with a population of more than 1,000 will be connected by concrete roads, he said.

Maharashtra is the country's financial engine, and will become USD 5 trillion economy by 2047, he said.

Fadnavis fondly recalled 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, he 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 VT VT