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Why is cheap an affordable credit important for the countries development? |
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Answer» Cheap and affordable credit plays a crucial role for the country’s development.Reasons are(i) The credit helps people to meet the ongoing expenses of production and thereby develops their businesses in agricultural and industrial areas.(ii) For middle-class people, loans help a lot inconstructing their houses and get rid of monthly rents.(iii) It raises the standard of living and social status of the common man by enabling them to buy automobiles, electronic items, etc. 1.It helps farmers to take loans.2.Small rural people can take loans and start small businesses 3.If all citizens take loans from bank it income increases. |
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