question_answer

?Credit has its own unique role for development?. Justify the statement with arguments.

Answer:

Role of credit in development:

(i) It creates better facilities for agriculture and industrial activities.

(ii) It helps people from all ways of life in setting up their business, increase their earnings and support their families.

(iii) To some people, loans help a lot in constructing their homes and get rid of monthly rents.

(iv) To others, loan or credit helps a lot in raising their social status by purchasing luxury commodities.