Maharashtra cabinet approves ₹36,585cr loan waiver for 56L farmers
India
Big news for farmers in Maharashtra: the state cabinet has approved a ₹36,585 crore loan waiver.
This means loans up to ₹2 lakh will be cleared for around 56 lakh farmers, covering over 65 lakh accounts.
The move, first announced by Chief Minister Devendra Fadnavis during his budget speech, aims to ease the financial stress many farmers have been facing.
Regular-paying farmers to get ₹50,000
Fadnavis has asked officials to make sure the money reaches farmers' accounts by June 20.
There's also a nice bonus: farmers who've paid their loan regularly will get a ₹50,000 reward.
The scheme is designed both to help those struggling with debt and to encourage responsible borrowing in the future.