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Rural Development in India — Economics STD 11 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsEconomicsRural Development in India2 Marks
Question
Short Term Credit and Medium Term Credit.
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Answer

Short Term CreditMedium-Term Credit
(i) It refers to a loan not exceeding 2 years.(i) It refers to a loan for a period of up to 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 taken to make improvements on the land, buying cattle, or agricultural equipment, digging of canals, etc.

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