Loan waivers drive bank NPAs in MP up by Rs 2,949 cr in 10 months to Sept

Farmers, meanwhile, are paying for their seed and fertiliser needs in cash as the loan write-offs have taken them off the credit grid

Hundreds of thousands of farmers across Madhya Pradesh have been queuing at cooperative societies and fertiliser shops the past few weeks, to get their share of urea just when the peak wheat sowing season is on.

According to official sources, urea demand across the state has spiked as the extended southwest monsoon has left a small sowing window for wheat farmers, who do not stock urea otherwise.

Usually urea is needed twice for an ideal wheat crop — the first time within a fortnight of planting and the second after a month-and-a-half of sowing.

Loan waivers: more harm than good