Maharashtra has sought higher market borrowings to help finance the loan waiver of Rs 34,000 crore, which the state recently extended to 89 lakh farmers. If the finance ministry approves the proposal, Maharashtra’s annual open market borrowing limit will go up front Rs 35,000 now crore to Rs 50,000 crore. Mungantiwar told The Indian Express: “I have urged the Centre to consider higher open borrowing limits by Rs 15,000 crore. The Centre has categorically ruled out extending financial support to states, including Maharashtra, for a loan waiver. Interestingly, the total dues (non-payment) is Rs 37,700 crore across 44 lakh farmers.

Source: Indian Express June 28, 2017 21:33 UTC