Nation Current Affairs 12 Jun 2017 Maharashtra promises ...

Maharashtra promises partial loan waiver to farmers

DECCAN CHRONICLE. | SHRUTI GANAPATYE
Published Jun 12, 2017, 1:26 am IST
Updated Jun 12, 2017, 2:36 am IST
The decision will benefit around 70 per cent of farmers with small land holding in the state.
Maharashtra Chief Minister Devendra Fadnavis. (Photo: PTI)
 Maharashtra Chief Minister Devendra Fadnavis. (Photo: PTI)

MUMBAI: Bowing down before the farmers of Maharashtra, the state government has finally agreed, albeit partially, to their demand for a loan waiver.

While there are some riders for farmers with large land holdings, farmers who own up to five acres will get immediate and complete relief and can apply for a fresh loan from Monday.

 

The decision will benefit around 70 per cent of farmers with small land holding in the state, but the state exchequer has been saddled with a burden of around Rs 40,000 crore.

As per the decision, farmers who own up to five acres of land will get a complete loan waiver, but certain financial criteria would be applicable for farmers with larger land holdings to ensure that only needy cultivators benefit from the move. The state had been witnessing a farmer agitation from June 1 state, which had brought the supply of vegetables, fruits and milk to cities to a standstill initially.

 

Declaring the government’s intentions, CM Devendra Fadnavis on Sunday tweeted, “Government agrees for loan waiver for farmers. Conditions and detailing will be finalised by a Joint Committee. At the same time, the milk societies will have to agree with 70:30 formula of profit sharing on the lines of sugar industry (sic).”

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