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"Credit has its own unique role for development". Justify the statement with arguments.. |
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Answer» Cheap and affordable credit is crucial for the country\'s development due to the following factors:(i)More lending would lead to higherincomes and encourage people togrow crops, do business and set upsmall scale industries.(ii)Cheap credit means more income isleft with the borrower to reinvestrather than return as interest. Thisleads to acceleration of economicactivity.(iii)Cheap credit would also allowweaker sections of society to enterformal sector of lending and ridthem of exploitation.(iv)Affordable credit would also endthe cycle of debt trap and lead tosustainable economic activity thatwould allow borrowers to invest inbetter technology to make theirbusiness more competitive. Thnk u.. ? Yes, decause through many poor people do work and by gainig profit repay the loan. So there is development Sorry but l don\'t no Plzz ans guyzz... |
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