Financial Inclusion in India: An Evaluation
of the Coverage, Progress and Trends
-- Vighneswara Swamy P M
Access to finance by the poor is a prerequisite for poverty reduction and
sustainable economic development. Importance of financial inclusion arises
from the problem of financial exclusion of nearly 3 billion people from the
formal financial services across the world. The study has critically analyzed the
issues and challenges involved in financial inclusion for inclusive growth and
has also successfully attempted to highlight the factors that can aid in
achieving financial inclusion for inclusive growth in India, particularly in the
context of the feared global slowdown and negative impact of high inflation
on the Indian economy. The paper has also suggested some policy choices for
successful implementation of the policy of financial inclusion for sustainable
growth of Indian economy. The paper is a significant attempt to understand and
emphasize the importance of the topic.
© 2011 IUP. All Rights Reserved.
Financial Inclusion: Status, Issues, Challenges and Policy in Northeastern Region
-- Anand Singh Kodan, Narander Kumar Garg
and Sandeep Kaidan
Rangarajan Committee (2008) defined financial inclusion as the process of
ensuring access to financial services and timely and adequate credit needed by
the vulnerable groups, such as the weaker sections and low-income groups, at
an affordable cost. This paper makes an exhaustive examination of the status
of financial inclusion in the seven northeastern states of India. This is followed
by an analysis of the financial inclusion policy adopted by RBI. The paper
provides indications and implications on future course of action that can be
initiated by the apex bank of the country.
© 2011 IUP. All Rights Reserved.
SMEs and Economic Growth in India: Cointegration Analysis
-- Annapurna Dixit and Alok Kumar Pandey
Available studies on Small and Medium Enterprises (SMEs) have mainly
focused on performance indicators, role of financial institutions and sources
of growth in many developing countries. The present study utilizes the
cointegration analysis to examine the causal relationship between SMEs
output, exports, employment, number of SMEs and their fixed investment and
India’s GDP, total exports and employment (public and private) for the period
1973-74 to 2006-07. The result reveals positive causality between SMEs output
and India’s GDP. Error Correction Mechanism (ECM) was employed for
analyzing the short-run relationship between the variables relating to SMEs
and India’s growth. The ECM results indicate that independent variables
positively affect the dependent variables in the short run.
© 2011 IUP. All Rights Reserved. |
