Daijiworld Media Network – Mumbai
Mumbai, Mar 7: Maharashtra Chief Minister Devendra Fadnavis on Friday unveiled the Punyashlok Ahilyadevi Holkar Shetkari Karjmafi Yojna, a farm loan waiver scheme in the 2026-27 state budget fulfilling a pre-poll promise by Mahayuti parties ahead of the 2024 assembly elections.
Under the scheme, crop loans of up to Rs 2 lakh taken till September 30, 2025, will be waived, while farmers who have repaid loans regularly will receive an incentive of Rs 50,000. So far, a panel reviewing bank records has identified around 28–30 lakh farmers eligible for relief, with 20 lakh accounts set to receive the incentive.
Fadnavis, who also holds the finance portfolio, highlighted that capital expenditure has increased by 21 per cent, from Rs 93,000 crore to Rs 1,12,000 crore, to strengthen infrastructure and capacity building across the state. He stressed that schemes such as Mukhyamantri Ladki Bahin Yojana for poorer women will continue without cuts, and resources will be mobilised to ensure implementation.
The chief minister also announced a massive tree plantation drive to increase Maharashtra’s forest cover from 21–23 per cent to 33 per cent by planting 300 crore trees over the next seven years.
Additionally, Rs 6,000 crore has been earmarked for solid waste management and sewage treatment in urban areas, and a new scheme named after tribal leader Birsa Munda will benefit Adivasi students.
Fadnavis said the state economy, currently valued at around Rs 51 lakh crore, is expected to grow at 7.9 per cent in 2025-26, higher than the national rate of 7.3 per cent. Fiscal and revenue deficits remain within FRBM Act targets, with a fiscal deficit at 2.7 per cent and revenue deficit below 1 per cent of GSDP.
Deputy Chief Minister Eknath Shinde affirmed that the budget delivers on pre-poll promises, with a focus on infrastructure development and relief for cultivators, and confirmed that the stipend under Ladki Bahin Yojana will be increased from Rs 1,500 to Rs 2,100 at an appropriate time.