Loan waiver for farmers is a masterstroke – Deputy Chief Minister Eknath Shinde

A budget that boosts the economy while maintaining social responsibility

Mumbai, March 2026: Deputy Chief Minister Eknath Shinde said that Chief Minister Devendra Fadnavis has presented a visionary budget that ensures balanced development of both rural and urban Maharashtra. He said that while the government has shown social responsibility by providing loan waiver for farmers and allocating funds for the ‘Ladki Bahin’ scheme, it has also taken steps to boost the economy by improving connectivity between villages and cities across the state.

After the state budget was presented in the Legislature, Deputy Chief Minister Shinde welcomed the budget and congratulated Chief Minister Devendra Fadnavis.

Deputy Chief Minister Shinde said that “Viksit Maharashtra 2047” will be built on four pillars — progressive, sustainable, inclusive and good governance — and that the state has now received a clear direction for development. He stated that the announcement of the Punyashlok Ahilyadevi Holkar Farmer Loan Waiver Scheme providing loan waiver up to ₹2 lakh for eligible farmers is a masterstroke by the state government. According to him, it proves that the government stands firmly with farmers.

He added that farmers with outstanding crop loans up to 30 September 2025 will also benefit from the scheme, and those who have regularly repaid their loans will receive an incentive benefit of up to ₹50,000. This will ensure that a large number of farmers benefit from the scheme, he said.

Shinde also mentioned that misinformation had been spread regarding the ‘Ladki Bahin’ scheme, but the government has clearly provided funds for it in the budget. He said the scheme will be implemented more effectively to empower women.

He further said that the budget includes well-planned measures to properly connect rural and urban areas of Maharashtra. This includes the creation of a large network of roads connecting roads, metro systems, waterways and airports across the state. The government has also set a goal to develop Maharashtra as a tourism-friendly state.

Shinde said that a plan will be prepared to develop 10 lakh affordable houses along with rental housing to redevelop homes of 20 lakh slum dwellers in the Mumbai metropolitan region. At the same time, while maintaining financial discipline, the budget lays a strong foundation for AI-based agriculture, which will bring new opportunities to the agricultural sector.

He added that technology will be used extensively in the implementation of schemes across various departments, which will help make the daily lives of common citizens easier, simpler and more comfortable.

Deputy Chief Minister Shinde also said that various public welfare initiatives will be undertaken in the state to mark the birth centenary of Bal Thackeray, and detailed planning and information about these programmes will be announced soon.

He further stated that a system is being developed to deliver government schemes and services to citizens in a simple, accessible and accountable manner. In addition, 75,000 vacant government posts will be filled, which will provide large-scale employment opportunities for youth.

Shinde said that the decision to celebrate this year as the Year of Social Equality and Harmony, along with the plan to build a grand memorial for the late Ajit Pawar and institute the “Gatiman Civil Service Award” in his name, will send a positive message.

He also noted that Maharashtra has immense potential in the tourism sector. By developing small tourism destinations, the state will be able to boost the rural economy and create more employment opportunities.

The budget has also planned to increase industrial production to $1.5 trillion, while encouraging the service and technology sectors through various policies. Shinde said that the government has also expressed its determination to develop “Third Mumbai” in the area around Atal Setu, which will further strengthen the Mumbai metropolitan region.

He concluded by saying that Prime Minister Narendra Modi has set a goal of making the Indian economy $5 trillion, and Maharashtra will make a major contribution toward achieving this objective, which is reflected in the budget.