Maharashtra farmers' protest: Loan waiver will create fiscal pressure for four years, says Devendra Fadnavis

Nagpur: A day after announcing a mega farm loan waiver scheme, Maharashtra Chief Minister Devendra Fadnavis on Sunday said it will create some "pressure" for the state's finances for the next three-four years.

File image of Devendra Fadnavis. PTI

File image of Devendra Fadnavis. PTI

"Looking at the economic condition of Maharashtra, the Rs 34,000 crore loan waiver will have its impact on the fiscal health of the state," he said, addressing a function in Nagpur.

"It will create financial pressure on the economy for the next three to four years and it will not be an easy task (to handle this pressure)," Fadnavis said.

He was speaking at a program organised by Marathi Patrakar Parishad where senior RSS leader M G Vaidya and several journalists were felicitated.

Fadnavis added that since the decision has been taken in farmers' interest, there is no harm in government bearing the financial stress.

"Loan waiver is not a complete solution to the farmers' problems. No doubt it is one of the important steps towards addressing farmers' woes. However, investment in farm sector is very important to increase the productivity," he said.

Investment in agriculture and infrastructure will ultimately help cut the fiscal deficit of the state as it will boost growth, he said.

Updated Date: Jun 25, 2017 19:01 PM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See