Jyotsna, 61, was the chairperson of the "Lokmat Sakhi Manch", a forum for women, started under the aegis of the newspaper group, managed by her husband.
Jyotsna, the President of Jain Saheli Mandal, was undergoing treatment at a local hospital here for the past few days.
She was the sister of former Maharashtra minister Suresh Jain.
Her last rites would be performed at Yavatmal in Vidarbha tomorrow, family sources said.