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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 8 years, 1 month ago

CBSE > Class 10 > Mathematics

5 answers

Debasish Majumdar 6 years, 1 month 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 8 years, 1 month ago

Thnk u.. ?

Arsheen Kaur 8 years, 1 month ago

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

Shaniya Sharma 8 years, 1 month ago

Sorry but l don't no

Sinthi M 8 years, 1 month ago

Plzz ans guyzz...

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