Impact of Micro Finance on Income and Employment Generation (With Special Reference to Meerut District)

Poverty and unemployment are the two most important problems faced by any developing country. In a developing country like India, where major part of the population resides in rural areas, rural development becomes necessary for the financial growth. Since independence though the Government of India has initiated a variety of programs to alleviate poverty but an important progress did not happen. The poor people are often deprived of the financial services by the banks. Consequently, they have to rely upon the informal sources of finance which exploit them by charging an exorbitant rate of interest, and resulting in their misery and indebtedness. Micro finance is one such initiative that aims at poverty reduction by ensuring basic economic services to the underserved sections at affordable costs. The objective of the present paper is to study impact of micro finance through self-help groups in generating employment opportunities, improving incomes and savings of the people.

You can download the entire research paper from the link below.

First Author: Dr. Vijeta Chaudhary

Second Author: Dr. Raja Roy Choudhury