Why is cheap and affordable credit important for the country’s development? Explain three reasons. -SST 10th

Why is cheap and affordable credit important for the country’s development? Explain three reasons. -SST 10th
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Cheap and affordable credit is important for the country’s development because of the following reasons: (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 good. All these lead to the country’s development.
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