High interest rates can make loan repayment exceed a borrower’s income, creating rising debt and a debt trap. Many avoid starting enterprises due to costly loans. Hence, banks and cooperatives must lend more so people can access cheaper credit and ...
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Reforms within political parties are necessary to make democracy effective by ensuring transparency, internal elections and fair candidate selection. Without reforms, parties become undemocratic and dominated by a few leaders. For example, the Election Commission encourages inner-party democracy.
Chhattisgarh is ideal for a cement plant because it has abundant limestone, nearby coal for fuel, reliable power supply and excellent transport links. Its central location, skilled labour, supportive industrial environment and low production costs make cement manufacturing highly economical ...
The Great Depression sharply reduced global demand, causing Indian agricultural prices to crash. Farmers faced falling incomes, rising debt and forced exports. Urban workers lost jobs, while poverty deepened. Social unrest increased as economic hardship affected communities across colonial India.
After the 1949 revolution, China entered the global economy, attracting foreign MNCs with its low economic costs. Its vast population created a huge consumer market and low wages made it a preferred destination for global manufacturing and trade.