Maharashtra Chief Minister Devendra Fadnavis has rejected a united demand by the opposition parties and ally Shiv Sena to waive agriculture loans for 2014-15. He said that the government, instead, will invest Rs 5,000 crore every year over the five years in agriculture to provide irrigation, power connections and food processing facilities. He said, the government, will raise taxes to mobilize funds for this purpose. Mr Fadnavis was replying to discussion on a motion tabled by the opposition parties demanding a loan waiver. Maharashtra is facing a drought-like situation for the third year in a row, with the state receiving only 55 per cent of average rainfall between 1 June and 15 July.
Mr Fadnavis said that a loan waiver would not serve any purpose. He said, as part of the zero-suicide mission, the state government is planning to bring 2.15 lakh hectares of additional land under irrigation through 132 projects in some of the suicide-prone districts within the next three years. It also plans to build 1 lakh wells over the next three years at an investment of 2,074 crore rupees. Besides, 47,277 new electric connections would be provided to farmers in the 14 suicide-prone districts. The government will also spend 1,595 crore rupees on premium for crop insurance for farmers.