Maharashtra gives in: Govt waives off all farm loans, averting farmers strike

Farmers accepted the new offer on Sunday, ending an 11-day strike

Maharashtra home of the country's financial capital Mumbai, agreed to forgive all loans held by farmers, who in turn ended a strike that had sent prices of vegetables and produce sharply higher.

It was not immediately clear how much the loan waivers would cost state coffers. Maharashtra state Revenue Minister Chandrakant Patil told reporters that a joint committee of government representatives and farmer leaders will be put in place to decide on the exact details and execution of the waivers.

Last week Maharashtra's chief minister Devendra Fadnavis had said the government was willing to write off up to Rs 30500 crore ($4.75