Question

11. Why do we need to expand 3p
formal sources of credit in
India.​

Answer 1

Answer:

$\huge\mathfrak\red{ANSWER}$

There is need to expand formal sources of credit in India as: (i)This would lead to higher incomes and many people could then borrow cheaply for a variety of needs. (ii)They could grow crops, do business, set up small-scale industries etc. (iii)They could set up new industries or trade in goods.