Maharashtra Government releases Rs 4000 crore in phase 1 of Loan Waiver Scheme

Chief Minister of Maharashtra Devendra Fadnavis has released a sum of Rs 4,000 crore under the first phase of the over Rs 34,000 crore farm loan waiver scheme. In the first phase, will cover more than 8 lakh farmers, Fadnavis stated as he listed initiatives taken by his government towards increasing investment in the agriculture sector.

The State Government has released Rs 4,000 crore of which Rs 3,200 crore will be for writing off the loans of 4.62 lakh farmers. The remaining Rs 800 crore will be in the form of incentive for 3.78 lakh farmers who are paying their loans on time.
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Source- The Economic Times

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