Question

why is cheap and affordable credit important for the country's development? Explain any three reasons

Answer 1

farmers can get benefit and rate of suicides would decrease
i think this is one hint
if our main food producers would get benefit then the country's development will improve

Answer 2

'Cheap and affordable credit' important for the "country's development" are as follows:

• Cheap credit allows the weaker sections of 'society' to build their own business and end the trap of exploitation at the "hands of informal" money lenders.

• Cheap and affordable credit helps the small scale industries to invest more and boost their business on a large scale.  

• It helps them to end the vicious circle of 'money lenders' and private financers.