Maharashtra Government Waives Stamp Duty on Farmer Loans

Maharashtra government exempts stamp duty on loans up to Rs 1,60,000 for farmers, easing financial burden. Details of the decision and its impact outlined.

The Maharashtra government has announced a significant relief measure for farmers ahead of the Holi festival. This decision entails the waiver of stamp duty on loans up to Rs 1,60,000, aimed at alleviating financial strain among agricultural communities.

Key Decision: Maharashtra Government’s Stamp Duty Waiver

In a bid to support farmers, the Maharashtra government has opted to waive stamp duty on loans, providing substantial relief to agricultural workers across the state. Chief Minister Eknath Shinde revealed this initiative, highlighting its importance in facilitating access to credit for farmers.

Streamlining Financial Assistance

Also, under a new policy, the Maharashtra government has initiated the Kisan Credit Card (KCC) digital project in Beed district. This project aims to digitize loan disbursements, ensuring seamless and timely financial assistance to farmers. Notably, funds have been directly credited to the bank accounts of 22 farmers through the Kisan Credit Card platform.

Financial Allocations

Beed emerges as a focal point for agricultural reforms, being one of the chosen districts for Kisan Credit Card digitization. With approximately 4.7 lakh farmers slated to benefit from this program, the government has earmarked Rs 45,000 crore for agricultural initiatives over the past eighteen months.

Government Commitment to Farmers

Chief Minister Shinde reaffirmed the government’s commitment to prioritizing the welfare of farmers. Emphasizing the state’s proactive response to natural calamities, he underscored ongoing efforts to bolster agricultural infrastructure. Notably, the government has launched 120 irrigation projects aimed at enhancing agricultural productivity across 15 lakh hectares of land.

Conclusion

The Maharashtra government’s decision to waive stamp duty on farmer loans reflects a concerted effort to support the agricultural sector. With a focus on digitalization and financial assistance, the government aims to empower farmers and foster sustainable growth in the agricultural landscape.