The Maharashtra state cabinet has approved a substantial loan waiver of ₹36,585 crore, aimed at assisting 5.57 million farmers under the Punyashlok Ahilyadevi Holkar Shetkari Karjmukti Yojana 2026. This initiative will waive agricultural loans of up to ₹2 lakh for eligible farmers until September 30, 2025. Additionally, farmers who regularly repay their loans will receive an incentive of ₹50,000. The scheme encompasses loans from various banking institutions, including nationalized, rural, private banks, and cooperative credit societies. Exclusions apply to certain government officials and high-income earners. The implementation is scheduled to occur before June 30, 2024, following the necessary approvals from the Election Commission due to the upcoming legislative council elections. A dedicated committee will oversee the rollout and ensure the effective management of the loan waiver process.