Que : 215. Write the role of loan for development.

Answer:

Credit and loans are available from a variety of sources. These can be either formal or informal sources, either for occasional purpose or for buying various assets. loans are often taken for full filling needs like buying new quiment which leads to capital formation. loans are also taken for adopting various new technologies which will ultimately leads to the advancement. therefore, loans may indirectly or directly contributes to the development of the economy.