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Define Grants

Grants: It is generally used to explain amounts of money received by an organization for a particular purpose however with no obligation to repay (that is, in contrast to a loan, though the award might stipulate the repayment of funds under some situation). For illustration, the state receives certain federal grants for the implementation of health and community development programs, and the state too awards different grants to the local governments, private organizations and individuals according to criterion applicable to the program.

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