India, March 7 -- Chief minister Devendra Fadnavis on Friday announced a crop loan waiver of up to Rs.2 lakh for farmers, alongside an incentive of Rs.50,000 for those who repay crop loans on time, while presenting the state budget in the legislative assembly. The loan waiver and repayment incentive will cost the state around Rs.35,000 crore in the 2026-27 financial year, Fadnavis later told reporters.

"The Punyashlok Ahilyadevi Holkar Farmer Debt Waiver Scheme will give a debt waiver of up to Rs.2 lakh to eligible farmers who have overdue crop loans as of September 30, 2025. To encourage farmers who take and repay loans regularly, an incentive of up to Rs.50,000 will be provided," Fadnavis said in the assembly.

Provision of free electr...