Question
Short Term Credit and Long Term Credit.
| Short Term Credit | Long Term Credit |
| (i) It refers to a loan not exceeding 2 years. | (i) It is taken for a period of more than 5 years. |
| (ii) It is taken to fulfill short-term requirements like the purchase of fertilizers, buying of HYV seeds, for meeting expenses of religious or social ceremonies, etc. | (ii) It is generally taken to buy tractors, making permanent improvements on the land, etc. |
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