Ganesh Bachhav took the extreme step in the wee hours in Sonaj Takali village in Malegaon tehsil of the district, Resident Nayab Tehsildar Amit Pawar said.
Prima facie, he was unable to bear expenses of his ailing father and brother. The ongoing drought only aggravated the situation, he said.
A case under relevant sections of IPC has been registered at the Malegoan taluka police station and investigations are underway, police said.