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"Credit has its own unique role for development". Justify the statement with arguments. |
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Answer» Credit is an agreement in which the Lenders supplies the borrowers with money, goods and services in return for the promise of future payment.Credit has its own unique role for development because of following reasons:\tCheap and affordable credit lead to higher incomes and many people could then borrow cheaply for a variety of needs.\tWith credit people could grow crops, do business, set-up small scale industries etc.\tPeople could set-up new industries or trade as well. All these activities lead to development of the country.
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