Question

why is cheap and affordable credit important for the country's development?

Answer 1

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.

Answer 2

Cheap and affordable credit is important for countries developments because...
It also helps to poorer also
It provides a better way to give a rise to progess
It supports everyone. ......