Maharashtra government has announced the release of Rs. 4000 Crore for farm loan weaving scheme. This amount has been released under the first phase of the total Rs. 34,000 to be released. The Disbursal of first phase will be covering total 8 lakh of farmer of the state as the initiatives of the state government taken to invest in the agriculture sector.
The Rs. 4000 Crore amount will be used in two forms as under:
Rs. 3200 crore will be used for writing off the loans of 4.62 lakh farmers.
Rest Rs. 800 Crore will be distributed to 3.78 lakh farmers in the form of incentives who have paid their loans on time.
Chief Minister Davendra Fadnavis said that apart from loan waiver schemes for improving farmer’s conditions, continuous investments in agriculture sector for the next five years by the Maharashtra government will ensure the sustainable development.