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Unit 4 Ch 3 : Money and Credit — Social Studies STD 10 — Question

CBSE BoardEnglish MediumSTD 10Social StudiesUnit 4 Ch 3 : Money and Credit3 Marks
Question
How do farmers get into debt trap?
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Answer

Farmers usually take crop loans at the beginning of the season and repay the loan after harvest.
Sometimes, the failure of the crop makes loan repayment impossible.
So, the farmers have to sell a part of their land to repay the loan. Credit in such a condition pushes the borrowers into a situation from which recovery is painful and they get into the debt trap.

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