Maharashtra Budget 2021: Farmers can now repay loans with 0 per cent interest

Ajit Pawar, Maharashtra's Deputy Chief Minister who is also the Finance Minister, on Monday presented the Maharashtra Budget 2021-22 in the state Assembly
Maharashtra Budget 2021: Farmers can now repay loans with 0 per cent interest
Deputy CM Ajit Pawar in the Assembly building for Budget Session of MaharashtraImage source: Twitter

Mumbai: Maharashtra Deputy Chief Minister Ajit Pawar on Monday presented the Maharashtra Budget 2021-22 in the state Assembly and declared that the farmers will be permitted to repay their farm loans with 0 per cent interest. The interest amount will be borne by government, Deputy CM Pawar said in the Maharashtra Assembly on Monday.

Pawar said, “Farmers can now repay their farm loans with 0 per cent interest. The interest amount will be borne by the government. No interest will be charged on crop loans amounting up to Rs three lakh.” Predicting a negative growth of minus 8 per cent during 2020-21, on the lines of the national economy, the Economic Survey stated that the state agriculture and allied activities would grow by 11.7 per cent, industry plummeting to minus 11.3 per cent and services sector falling to minus 9 per cent.

Despite a sharp economic slump in the wake of the Covid-19 pandemic devastate, fall in revenues and mounting debts, the Maha Vikas Aghadi (MVA)'s second Budget was presented focusing on mobilising resources, further increase health facilities and boost social initiatives and boost infrastructure. Deputy Chief Minister and Finance Minister Ajit Pawar unveiled the budget 2021-2022 in the state legislature on Monday amidst expectations of some relief coming to the people from the increasing rates of petrol, diesel and cooking gas.

Earlier, the Shiv Sena-Nationalist Congress Party-Congress had fussed and fumed at the Bharatiya Janata Party-led NDA at the Centre for the petrol-diesel prices and Pawar addressed the concerns somewhat in his Budget.

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