Cheap and affordable credit is crucial for the country\'s development.

1.	Cheap and affordable credit is crucial for the country\'s development. Give Six reasons.
Answer» Thanks for the answer... Cheap and affordable credit is crucial for the country\'s development due to the following factors:\xa0\tMore lending would lead to higher incomes and encourage people to invest in agriculture, engage in business and set up small scale industries.\xa0\tCheap credit means more income would be left with the borrower to reinvest rather than return as interest. This leads to acceleration of economic activity.\tCheap\xa0credit would also allow weaker sections of society to enter formal sector of lending and rid them of exploitation at the hands of informal moneylenders. Thus, it may improve the economic condition of the poor and landless.

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