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"Credit has its own unique role …

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"Credit has its own unique role for development". Justify the statement with arguments..

Posted by Sinthi M 7 years, 10 months ago

CBSE > Class 10 > Mathematics

5 answers

Debasish Majumdar 5 years, 10 months ago

Cheap and affordable credit is crucial for the country's development due to the following factors: (i)More lending would lead to higher incomes and encourage people to grow crops, do business and set up small scale industries. (ii)Cheap credit means more income is left with the borrower to reinvest rather than return as interest. This leads to acceleration of economic activity. (iii)Cheap credit would also allow weaker sections of society to enter formal sector of lending and rid them of exploitation. (iv)Affordable credit would also end the cycle of debt trap and lead to sustainable economic activity that would allow borrowers to invest in better technology to make their business more competitive.

Sinthi M 7 years, 10 months ago

Thnk u.. ?

Arsheen Kaur 7 years, 10 months ago

Yes, decause through many poor people do work and by gainig profit repay the loan. So there is development

Shaniya Sharma 7 years, 10 months ago

Sorry but l don't no

Sinthi M 7 years, 10 months ago

Plzz ans guyzz...

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This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html

Few rules to keep homework help section safe, clean and informative.

Don't post personal information, mobile numbers and other details.
Don't use this platform for chatting, social networking and making friends. This platform is meant only for asking subject specific and study related questions.
Be nice and polite and avoid rude and abusive language. Avoid inappropriate language and attention, vulgar terms and anything sexually suggestive. Avoid harassment and bullying.
Ask specific question which are clear and concise.

Remember the goal of this website is to share knowledge and learn from each other. Ask questions and help others by answering questions.

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