Mumbai, March 6: Maharashtra Deputy Chief Minister Ajit Pawar on Friday announced one-time settlement scheme for farmers whose debt is more than Rs 2 lakh in the state budget for 2020-21.

Pawar, who also holds the finance portfolio, saidan amount of Rs 2 lakh will be deposited in bank accounts of farmers whose dues were more than Rs 2 lakh till September 30, 2019.

Presenting the first budget of the Shiv Sena-led MVA government in the assembly, the finance minister said farmers who took crop loan in 2018-19 and regularly pay their dues will be given Rs 50,000 as incentive.

Pawar said the budget proposals focus on tackling challenges of economic slowdown and creation of employment. He said the government has set a target of feeding one lakh people through its 'Shiv Bhojan' meal scheme.

The finance minister made a provision of Rs 150 crore for the subsidised food scheme for the poor.

Incidentally, the Maha Vikas Aghadi (MVA) government completed 100 days in office on Friday. Pawar said there was a drop in central funds to the state to the tune of Rs 8,453 crore. The state's debt till January 2020 stood at Rs 4,33,901 crore, the finance minister said.