Bankers could act as counsellors for farmers: Arjun Ram Meghwal

Minister of state for finance Arjun Ram Meghwal has said bankers could also act as counsellors for farmers in order to settle their disputes and encourage them to spend money for productive use.

"Bankers committee both at state and district level could take up these issues with relevant state administration," he said on Tuesday, adding that doubling income of farmers can also possibly be a part of their agenda.

Meghwal asked if a mechanism to resolve such disputes in fast track manner by district administration can be explored at so that there income is protected.

"There should be deliberation on ways to diversify the income sources of farmers so that the income is doubled," he said at a function organised by Nabard.

The newly appointed minister noted that India is considered as a 'bright spot' in the global economy, which grew at 7.6 per cent in 2015-16.

"But, it is a matter of concern that the agriculture sector could grow at (-) 0.2 per cent and 1.2 per cent during the last two years due to two successive years of lower-than-normal monsoon rains, which adversely affected the income of farmers," he said.

Prime Minister Narendra Modi has unveiled a seven-point strategy to double the income of farmers with measures to step up irrigation, provide better quality seeds, crop insurance and prevent post-harvest losses.

The strengthening of the cooperative movement can also play important role in increasing income of the farmers, he said, adding that farmers need to be integrated with ongoing social sector scheme such as Atal Pension Yojana, to double their income.

Nabard chairman Harsh Kumar Bhanwala said small and marginal holdings constituting 85 per cent of total holdings in the country, and the task of doubling real income of farmers by 2022, though a challenge, is not insurmountable.