23 April,2026 08:07 AM IST | Mumbai | Sanjeev Shivadekar
Representation pic/istock
The proposed farm loan waiver in Maharashtra has moved a step closer to implementation, with the state-appointed study panel submitting its report to Chief Minister Devendra Fadnavis on Wednesday. The government will now examine the recommendations before taking a final decision.
The loan waiver was announced during the March budget session, in line with a key promise made by the Mahayuti alliance - comprising the Bharatiya Janata Party (BJP), Shiv Sena (Eknath Shinde faction), and the Nationalist Congress Party (Ajit Pawar faction) - during the 2024 Assembly elections. The scheme is expected to benefit lakhs of farmers across Maharashtra by easing the burden of crop loans.
The committee, constituted six months ago, was tasked with outlining the waiver framework and suggesting both short- and long-term measures.
>> Report drafted under the leadership of Pravin Pardeshi, chief economic advisor to the CM
>> Pardeshi also headed the panel in his capacity as MITRA CEO
>> Report now submitted for government review
Loan waiver: Up to Rs 2 lakh for farmers who have defaulted
Incentive: Rs 50,000 financial assistance for farmers who have regularly repaid loans
While details of the report remain undisclosed, earlier statements from the chief minister indicate that the most affected farmers will be prioritised.
Estimated figures:
>> Nearly 1 crore farmers have farm loan accounts in Maharashtra
>> Around 30 lakh are likely to be defaulters
>> These defaulters are expected to be the primary beneficiaries
>> Cut-off date for eligibility is September 30, 2025
The proposed waiver comes amid rising state debt.
>> Maharashtra's public debt is expected to cross Rs 11 lakh crore
>> State budget for 2026-27 pegged at Rs 7.69 lakh crore
The scheme is expected to have a significant fiscal impact:
Rs 20,000 cr for loan waiver (defaulters)
Rs 15,000 cr for incentives (regular payers)
