“ In our manifesto we had announced that if we came to power we would give a farm loan waiver and we have formed a committee under Pardeshi to finalise the criteria to do a farm loan waiver as well as find long term solutions to ensure that the farmer does not keep getting into a debt trap. This committee would submit its report in the first week of April (2026) and within three months, that is, within June 30, the state will do the farm loan waiver based on this report.” Said Chief Minister Devendra Fadnavis. The Chief Minister addressed the media after emerging out of a more two hour long meeting with farmers leaders and groups that had been blockading roads in Nagpur seeking a farm loan waiver. Farmers in the state are in deep strife after heavy floods have caused widespread damage to their crops as well as their homes pushing them to financial ruin.
Former MLA Bachchu Kadu of the Prahar Janshakti Party along with other farmer outfits had taken out a Tractor morcha that had caused roads in Nagpur. Fadnavis along with his two Deputy Chief Ministers Ajit Pawar and Eknath Shinde and senior government officials are engaged in discussions with Kadu and other farmer leaders to arrive at a solution.
The Chief Minister said that in the meeting he had conveyed to Kadu and other farmer leaders who were seeking an immediate farm loan waiver that a farm loan waiver now would not help the farmers. “ We have made them understand that the banks would do a loan waiver in June, not now. For now it is important for money to go into the farmers accounts and hence we have started making payments directly to the farmers accounts.90 percent of the farmers will get payouts in their accounts in the next 15 to 20 days and the rest 10 percent would also get soon.”said Fadnavis.
Maharashtra has been loath to give a farm loan waiver as it is under tremendous debt, the state’s debt is projected to reach Rs 9.32 lakh crore for 2025-26. The State’s schemes like the Ladli Bahin scheme where eligible women are being paid Rs 1500 per month has further caused issues with the treasury.
Fadnavis acknowledged that the state was facing challenging times on the financial front. “ Yes we have a financial burden, however inspite of that the state has given financial aid to the farmers now and we would find ways to come out of this.”said the Chief Minister.Hours before Fadnavis’s announcement, the state government issued a Government Resolution (GR) where it announced the formation of a nine-member committee headed by Pardeshi who is also the Chief Economic adviser to the Chief Minister.The GR has noted that while farmers are a key part of the rural ecosystem, they have gone into a debt trap due to unseasonal rainfall, hailstorm, drought, floods that have ruined their crops. As the farmers cannot pay the loans that they have taken due to their crops being ruined, the banks then do not give further loans to these farmers.
The GR notes that in the past the state government has given numerous farm loan waivers since 2017, however inspite of giving these farm loan waivers the farmers are still stuck in a debt trap. To change the circumstances of the farmers, the state has now given a mandate to a 9-member Committee headed by Pardeshi to raise the standard of living and income of farmers. The Committee has to submit its study report within six months.
The Committee has been given leeway to include other members from other departments and other experts for their views.
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