MAHARASHTRA ANNOUNCES RS 34,000CR LOAN WAIVER

MUMBAI: The Maharashtra government on Saturday announced a loan waiver package of Rs 34,000 crore that will provide relief to 89 lakh farmers in the state. After a Cabinet meeting cleared the loan waiver package, Maharashtra Chief Minister Devendra Fadnavis told media persons here that a debt of up to Rs 1.5 lakh per farmer will be written off, which means loans of at least 40 lakh farmers will be completely waived. Those who paid back their loan amount regularly will be given a Rs 25,000 bonus or 25% loan return benefit, whichever is lower, he added.