Loan waiver will not impact development work, says Maharashtra CM Devendra Fadnavis

Devendra Fadnavis (File)

While loan waiver is going to lead to financial constraints, it will not impact development projects in Maharashtra, Chief Minister Devendra Fadnavis said on Saturday. The state government has evolved a separate plan to tackle the financial challenges, he said. “The Rs 34,000 crore loan waiver to 89 lakh farmers is bound to cause a financial strain on the state budget and treasury. But we are not going to allow that to impact our development projects or the state’s growth index,” Fadnavis said while outlining Maharashtra’s vision for the next 10 years at a programme organised by a Marathi TV Channel, ABP Majha, in Mumbai.

“We have prepared a plan. All our core social sectors and projects that are going to be in the larger interest of the state’s growth and public services will not be compromised,” Fadnavis said. “There are various options we are looking at to raise funds and expedite projects in public interest,” he added.

Fadnavis said the next 10 years are going to be significant for Maharashtra, along with the rest of the country.

He said, today, almost 45 to 50 per cent of the population of the state is dependent on agriculture. But contribution through the agriculture sector is extremely low. “Almost 80 per cent of the region comes under the rain shadow area. Our biggest challenge is to provide water to enable sustainable agriculture in these drought-prone regions of the state,” Fadnavis said. “Along with group farming, we have to interlink it with service and industrial sectors. We have to promote greater technology,” he added.