10th Class Social Science Money and Credit Question Bank 10th CBSE Social Science Money and Credit

  • question_answer    Why is cheap and affordable credit important for the country's development? Explain three reasons.


                      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 develop 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.

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