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“Cheap and affordable credit is crucial for the country’s development”. Assess the statement. |
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Answer» Cheap and affordable credit is crucial: (i) Many people want to start an enterprise by borrowing may not do because of the high cost of borrowing. (ii) Banks and cooperative societies need to lend more. (iii) This would lead to higher income and many people could then borrow cheaply for a variety of needs. (iv) They could grow crops, do business or set up small-scale industries. |
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