Maha waives off farm loans

Continued from Page 1 Mr Fadnavis had agreed to write off loans if farmers ended their 11-day strike that had led to a sharp spike in the prices of vegetables and produce across the state.

Uttar Pradesh, Punjab and Karnataka governments have also waived off farmer loans this year after a countrywide agrarian crisis, stemming from low prices for produce, led to farmers’ suicides and massive protests across the country.

A major farmers’ stir started in Madhya Pradesh that soon spread to other states, including Maharashtra, Rajasthan and Haryana.

With the waiver, Maharashtra’s public debt is set to cross Rs 4 lakh crore by March next year and the government will be spending more than `31,000 crore just to pay interest on its debt.

“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,” the chief minister said.

When asked how he would ensure that relief reached the intended farmers, Mr Fadnavis said, “We have taken precaution already. We will instruct banks to strictly follow the rules. CAG had exposed corruption in last waiver. But that will not happen this time.”

On June 11, Mr Fadnavis had formed a high-power ministerial group, headed by revenue minister Chandrakant Patil, to finalise the parameters of the waiver. Mr Patil met political leaders of all parties and representatives of farmers. On Friday, Mr Fadnavis also met NCP chief Sharad Pawar in Delhi to discuss details of the loan waiver.

It’s after these deliberations that the government finalised the loan waiver package at an urgent Cabinet meeting in Mumbai on Saturday.