Maharashtra Government : Decision on Loan Waiver Possible in Budget Session; Orders to All Banks by State Government

A major development has emerged for defaulting farmer borrowers in the state. The Maharashtra government has taken significant steps towards loan waiver by directing all banks to send information of defaulting farmers to the government committee. Therefore, it is expected that a reassuring announcement for farmers may be made in the upcoming budget session.

The state government has established a special committee for this, and detailed information about defaulting farmer borrowers has been requested for the period from June 30, 2025, to September 30, 2025. Information about approximately 74,000 farmers has been uploaded to the government's portal by the Nashik District Bank, and the process of collecting the remaining information is ongoing. Nashik District Bank's Chief Executive Officer Arvind Shinde provided this information.

To obtain accurate statistics on farmers' loans, cooperation is being sought from service cooperative institutions, bank branch officers, investigation officers, as well as officers from the sub-registrar and registrar offices. It is indicated that all this information will be compiled at the government level and further decisions will be made.

Meanwhile, Maharashtra's budget session is set to begin on February 23 and will continue until March 25. The state's budget will be presented on March 6. This year, after the demise of Finance Minister Ajit Pawar, Chief Minister Devendra Fadnavis will present the budget. The outline of the session has been finalized in the presence of Legislative Council Chairman Ram Shinde and Assembly Speaker Adv. Rahul Narvekar.

Millions of farmers in the state are currently burdened with debt. Increasing production costs, irregular rainfall, and market fluctuations have made it difficult for many to repay loans. In such a situation, if the government announces a decision like loan waiver or interest waiver, it could provide significant relief to the rural economy. Now, all eyes are on March 6. The entire state is eagerly awaiting what 'good news' farmers will receive in the budget.