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Class 10
Social Science - Understanding Economic Development
Money and Credit
analyse the role of credit for development

Question:
Analyse the role of credit for development.

Answer:

Credit is one of the major aspects that determine a country’s development. There is a huge demand for loans for various economic activities. Cheap and affordable loans given people an opportunity to develop their business. Credit plays a very crucial role in agricultural activities. People can borrow money and use it to adopt modern farming method to increase the crop production and grow crops which are more reliable than the traditional methods. By sanctioning loans to developing industries and trade banks provide them with the necessary aid for improvement.

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Question:
Analyse the role of credit for development.

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Question:
Analyse the role of credit for development.