According to a report by the Indian Express, the State Government of Maharashtra has decided to increase the capital investments in the agricultural sector. Further it has also decided to provide greater policy support to the service sector to enhance its growth and thereby achieving their one trillion dollar economy plan.
Capital For Agricultural Sector
The overall goal of the state government is reportedly to increase the growth rate of the agricultural sector from 10.5 to 15 percent by the year 2025. “The government’s commitment to agriculture sector is uncompromising. We will provide higher allocations in the agriculture sector,” said the Chief Minister of Maharashtra, Devendra Fadnavis while speaking to the Indian Express. The publication report also said that during the last three years, the allocation for the sector has gone up by 30 percent and now the government wishes to continue its capital investments in the agricultural as well as its allied sectors.
“We are ready to aggressively push more reforms and take course corrections through policies to ensure the State Gross Domestic Product goes up to 15 per cent. Referring to the biggest ever loan waiver to the farmers, he said, “The decision was taken to bring the small and marginal debt ridden farmers within the institutional credit system to enable them to avail fresh crop loans,” the CM added. The loan waiver of Rs. 23,000 crore that would benefit 47 lakh farmers has been processed says the report plus he also said that the amount would be directly credited to the farmers’ individual accounts.