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INTERNATIONAL JOURNAL OF SCIENTIFIC DEVELOPMENT AND RESEARCH International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2455-2631 | Impact factor: 8.15 | ESTD Year: 2016 open access , Peer-reviewed, and Refereed Journals, Impact factor 8.15 |
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| Paper Title: | Micro Finance, Self Help Groups, Poverty and Women Empowerment in India: An overview |
| Authors Name: | Md Ishtiyaque Ahmed , Dr. Prabhu Nath Singh |
| Unique Id: | IJSDR1910002 |
| Published In: | Volume 4 Issue 10, October-2019 |
| Abstract: | In India about 70% of the total population lives in villages and 60% of these population depends on agriculture which causes less employment and more poverty. The income difference between the rich and the poor is rising day by day. India rank second according to population in the world, comprises with 51.5% men and 48.5% women. Presently, our country is facing a severe problem with less employment and more poverty. In July 2018, World Poverty Clock, a Vienna-based think tank, reported that a minimal 5.3% or 70.6 million Indians lived in extreme poverty compared to 44% or 87 million Nigerians. Till 2019, Nigeria and Congo surpassed India in terms of total population earning below $1.9 a day. World Data Lab anticipates the effects of these methodological adjustments will result in a level of extreme poverty in India today of 50 million people, which will come down to 40 million (a poverty rate of below 3 percent) by end 2019. Chhattisgarh, Manipur, Odisha, Madhya Pradesh, Jharkhand, Bihar and Assam figure among the poorest states where over 40 per cent of people are below poverty line, Chhattisgarh is the poorest and Goa is the richest state in India according to the C Rangarajan panel. Women in India usually restrict themselves to homemaking. Women participation in workforce down to 28% in 2016 with respect to 37% in 2004-05, out of which 26.7% are working in rural areas. Rural women have potential and capacity to earn, but they rarely contribute to family income because they lack opportunity, hence the development of rural women is need of the hour for their economic independence. Under the circumstances, it has become indispensable to provide some definite solutions for employment generation and reduction of poverty. Microfinancing through self help groups in India has been viewed as a development tool which would alleviate poverty, generate employment, remove income inequality and enhance growth of the country through financial services to the needy poor. Loans to poor people by banks have many limitations including lack of security and high operating costs. As a result, microfinance institutions were developed as an alternative to provide loans through SHGs to the needy and vulnerable section of the society. It also provides training with strong discipline, which enables borrowers to increase their productivity, to increase their income and consumptions, which contribute to lowering vulnerability and poverty. This paper examines the role of micro finance and self help groups in reduction of poverty through entrepreneurship development and empowerment of women |
| Keywords: | - |
| Cite Article: | "Micro Finance, Self Help Groups, Poverty and Women Empowerment in India: An overview", International Journal of Science & Engineering Development Research (www.ijsdr.org), ISSN:2455-2631, Vol.4, Issue 10, page no.9 - 11, October-2019, Available :http://www.ijsdr.org/papers/IJSDR1910002.pdf |
| Downloads: | 000337067 |
| Publication Details: | Published Paper ID: IJSDR1910002 Registration ID:191031 Published In: Volume 4 Issue 10, October-2019 DOI (Digital Object Identifier): Page No: 9 - 11 Publisher: IJSDR | www.ijsdr.org ISSN Number: 2455-2631 |
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