Why is cheap and affordable credit important for country development.explain any thrre reasons
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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 in
constructing 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.
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 in
constructing 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.
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because in our country there is more poverty when compared two other countries
there are more middle class families in our country who can afford only less money
the value of Indian currency is less than other countries
there are more middle class families in our country who can afford only less money
the value of Indian currency is less than other countries
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