Mumbai, June 3 -- The Maharashtra cabinet on Tuesday approved a farm loan waiver scheme and announced a financial incentive for cultivators who cleared their dues on time, according to an official statement.
"Farmers will get a [farm loan] waiver of up to Rs.2 lakh, regardless of their land holding," said a release by chief minister Devendra Fadnavis's office.
It added that cultivators who have repaid their loans on time will be given Rs.50,000. Officials aware of the matter said that around 5.57 million farmers will benefit from the government's measures, which will cost the exchequer Rs.36,585 crore. P6
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