Discuss the importance of credit in rural development.

Asked by Last Modified  

2 Answers

Learn Economics

Follow 2
Answer

Please enter your answer

Dr minakshi Padhi

Credit is a essential requirements for rural development. Due to low income in rural areas, they have to need credit for better their life's . Most of the rural depends on agriculture. Agriculture sector is developed by the support of credit. Credit is needed by investment on fertilizer, seed, implements,...
read more
Credit is a essential requirements for rural development. Due to low income in rural areas, they have to need credit for better their life's . Most of the rural depends on agriculture. Agriculture sector is developed by the support of credit. Credit is needed by investment on fertilizer, seed, implements, upgrade the technologies and mechanised farming on agriculture sector. On the other hand credit helps rural poor for religious ceremonies and specific needs. credit helps the farmers in the period of natural calamities. So it play a vital role to rural development read less
Comments
Dislike Bookmark

Teacher with 6 years of experience! Take a crash course n complete your syllabus in time!

Credit plays a very important role as banking facilities are rarely available due to which they are dependent on informal institutions like money lenders which charge a very high rate of interest and mostly rural people are caught in the debt trap situation because of very high interest rate charged...
read more
Credit plays a very important role as banking facilities are rarely available due to which they are dependent on informal institutions like money lenders which charge a very high rate of interest and mostly rural people are caught in the debt trap situation because of very high interest rate charged by informal institutions . If credit is easily available then it will lead to development in agriculture as well as industrial houses will also set up industries in rural areas read less
Comments
Dislike Bookmark

Related Questions

State an example each of self-employment in rural and urban areas.
Example of self employment in urban areas will be shopkeeping, own business and for rural areas is farming in own land.
Shantanu
0 0
8
 Infrastructure contributes to the economic development of a country. Do you agree? Explain.
Yes, I agree that infrastructure contributes to the Economic development of a nation. For any development to take place, infrastructure is the basic requirement. Roads, bridges ,Railway lines boost the...
Swapna
0 0
5
Outline the steps involved in attaining sustainable development in India.
In 2015, the United Nations general assembly adopted the 2030 agenda for sustainable development 193 countries including India got committed to the 17 sustainable development goals that require efforts...
Ankita
0 0
5
 What is the most important function of RBI?
The most important function of RBI is that it issues currency notes and coins except one rupee note and coin.
Santosini
0 0
5
Name some notable economists who estimated India’s per capita income during the colonial period.
Dadabhai Naoroji, William Digby, Findlay Shirras, V.K.R.V. Rao, and R. C Desai.
Subhash
0 0
6

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

Statistical methods are not the substitute for common sense.
It is absolutely true that statistical methods are not the substitute for common sense. Statistical data should not be believed blindly as they can be misinterpreted or misused. The statistical data may...

Sujoy Das

1 0
0
CBSE Class 11 Economics
QUESTION Expansion of one industry facilitates the expansion of the other.How economic growth can become a dynamic process and a self-propelling activity of change? ANSWER Availability of proper...

Sujoy Das

2 0
0
Do you think regional inequality exists even in health infrastructure in India?
The development of health infrastructure has shown gender, income and regional biasness in India. Rural areas do not have access to or cannot afford medical care. Even though majority of population lives...

Sujoy Das

1 0
0
If it is stated that â??Rahul is 40 year old, Mohan is 6 ft tall, Rahim is 50 kg of weightâ?? then will these number be called statistics?
These numbers will not be called statistics as they are neither mutually related nor comparable. In order to compare the data, it is essential that statistics are uniform in quality. Data of different...

Sujoy Das

1 0
0
â??Today nearly every decision in business is made with the aid of statistical data and statistical methodsâ??.
Use of statistical data is made even in business. The promoters of the business make an extensive use of data to arrive at the conclusions which guide them in starting a new concern. The importance of...

Sujoy Das

1 0
0

Recommended Articles

Meet Urmila, an MBBS tutor from Bangalore

Urmila is a passionate teacher with over 8 years of experience in teaching. She is currently pursuing her Ph. D. She provides classes for Class 11, Class 12, MBBS and Medical tuition.  Urmila began her career in teaching long before she became a teacher. She used to provide classes for foreign national students in her college...

Read full article >

Meet Radhe Shyam Burman, an MBA Tutor from...

Radhe Shyam is a highly skilled accounts and finance trainer with 8 years of experience in teaching. Accounting is challenging for many students and that’s where Radhe Shyam’s expertise comes into play. He helps his students not only in understanding the subject but also advises them on how to overcome the fear of accounts...

Read full article >

Meet Sandhya R, a B.Sc tutor from Bangalore

Sandhya is a proactive educationalist. She conducts classes for CBSE, PUC, ICSE, I.B. and IGCSE. Having a 6-year experience in teaching, she connects with her students and provides tutoring as per their understanding. She mentors her students personally and strives them to achieve their goals with ease. Being an enthusiastic...

Read full article >

Meet Swati, a Hindi Tutor from Bangalore

Swati is a renowned Hindi tutor with 7 years of experience in teaching. She conducts classes for various students ranging from class 6- class 12 and also BA students. Having pursued her education at Madras University where she did her Masters in Hindi, Swati knows her way around students. She believes that each student...

Read full article >

Find Class 12 Tuition near you
Class 12 Tuition in Delhi
Class 12 Tuition in Bangalore
Class 12 Tuition in Chennai
Class 12 Tuition in Hyderabad
Class 12 Tuition in Kolkata
Class 12 Tuition in Mumbai
Class 12 Tuition in Pune
Class 12 Tuition in Lucknow
Class 12 Tuition in Noida
Class 12 Tuition in Gurgaon
Online Tuition Class 12

Looking for Class 12 Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you