Maharashtra Launches ₹2 Lakh Farm Loan Waiver Scheme

The Maharashtra government has begun implementing its ₹36,585-crore Punyashlok Ahilyadevi Holkar Shetkari Karjmukti Yojana 2026, a farm loan waiver programme aimed at providing relief to nearly 56 lakh farmer families.

The scheme offers a loan waiver of up to ₹2 lakh to eligible farmers across the state. Co-operation Minister Babasaheb Patil unveiled the first beneficiary list at a state-level press conference, which includes 533 eligible beneficiaries from seven districts.

Eligible farmers will receive an SMS from the government asking them to complete Aadhaar authentication. Once the verification process is completed, the approved loan waiver amount will be credited directly to their loan accounts through the Direct Benefit Transfer (DBT) system.

Before Aadhaar authentication, beneficiaries must register on the Agristack platform. The authentication process can be completed at nearly 32,000 Aaple Sarkar Seva Kendras across Maharashtra using either the Aadhaar number or the unique beneficiary ID.

The government will also display beneficiary lists at gram panchayat offices, cooperative societies, and bank branches for easy public access. The scheme is being implemented through a dedicated MahaIT portal using loan data uploaded by 53 banks, including 30 district central cooperative banks (DCCBs), 12 nationalised banks, and several private banks.

Officials said loan accounts submitted by DCCBs were verified by auditors before the beneficiary lists were prepared. The government aims to complete the process for DCCB borrowers by July 31, after which eligible borrowers of commercial banks will start receiving benefits.

Certain categories have been kept outside the scheme, including former and current MPs and MLAs, office-bearers of local bodies, serving and retired government and semi-government employees, income-tax payers with non-agricultural income, and office-bearers or employees of cooperative banks, sugar factories, spinning mills, milk unions, and agricultural produce market committees.

The state government has also widened the scheme's coverage by easing eligibility norms. Farmers covered under the 2019 Mahatma Jyotirao Phule scheme will also be eligible for the new scheme.

The launch of the scheme marks a significant step towards providing relief to farmer families in Maharashtra. With the implementation of the scheme, the state government aims to improve the livelihoods of farmers and contribute to the overall development of the agricultural sector.

The scheme is expected to have a positive impact on the state's economy, as it will help reduce the debt burden on farmers and increase their purchasing power. This, in turn, will boost demand for goods and services, contributing to the state's economic growth.

In conclusion, the Maharashtra government's farm loan waiver scheme is a significant initiative aimed at providing relief to farmer families. With its implementation, the state government aims to improve the livelihoods of farmers, contribute to the development of the agricultural sector, and boost the state's economy.