Maharashtra Approves ₹1.5 Lakh Crore for Farmer Relief, Announces ₹5,000 Diwali Aid: Fadnavis

Mumbai: Maharashtra Chief Minister Devendra Fadnavis has announced a ₹5,000 relief payment per farmer ahead of Diwali, with the funds expected to be credited to beneficiaries’ bank accounts within two days.

Fadnavis said approval had been granted for an allocation of ₹1.5 lakh crore towards farmer relief, describing the move as a significant step to support the agricultural community.

The chief minister also addressed concerns over the Bhimashankar Torrent pumped storage project, stressing its importance from an environmental perspective. He said pumped storage projects were necessary to reduce dependence on coal and indicated that the government was ready to hold discussions with stakeholders if objections were raised against the project.

On farmers’ financial concerns, Fadnavis said the state government had held discussions with the Reserve Bank of India (RBI) and requested it to intervene to stop the forced recovery of loans from farmers.

He added that measures had been initiated to curb coercive loan recovery practices by microfinance companies. The government, he said, was engaging with the RBI to address concerns surrounding the recovery of farmers’ loans.

The announcements come as the state government outlines measures concerning agricultural relief, access to financial support and energy infrastructure.