Restructuring NABARD is a futile attempt and may boomerang in the end. RBI, instead of serving the farmers as a watchdog, failed to finance and not only violated a statutory obligation under the relevant Act, but failed to serve the purpose of farmers. In the present, repositioning exercise continues in full swing. NABARD will cease to exist as a Development Finance institution for all practical purposes. Famine is the major reason quoted for the farmers’ woes in debt ridden areas of Maharashtra. The farmers’ distress is bound to continue so long as the general approach to agricultural management remains flawed.
It is time to call an emergency meeting to solve this sensitive issue. Nationalisation of rivers could have solved the irrigation problem in these barren lands. It is now or never situation.
— Jayanthy Subramaniam, Sanpada