Women Empowerment through Micro Credit: Dream or Reality

According to 2011 census, the population of rural India was about 70 percent of the total population. After 65 years of India's independence, complete elimination of poverty and backwardness are still a dream. The rural India faces acute gender disparities in terms of almost all the economic and social indicators. Therefore social and economic transformation of this disadvantaged community is highly needed to achieve a gender justified economic growth. Despite the nationalisation of major commercial banks in 1969 and widespread banking networking over the years a large segment of the population in the rural areas are excluded from the benefits of the formal financial system. Thus the key issue is to cover this wide range of population by extending cheap credit at the door step. It is also essential to mobilise small savings of the rural households to speed up the process of economic growth. Microcredit is a wonderful, magical tool in order to bring a complete socio-eonomic transformation of the poor, rural economy. These Institutions have tremendous capability to uplift the rural economy.

Autorentext

Dr. Aparajita Biswal is currently teaching Economics as a Faculty Member in the Department of Analytical and Applied Economics, Utkal University, Bhubaneswar, Odisha. She has obtained her Master s Degree, M.Phil. and Ph.D. from the Department of Economics, Utkal University. She has a Post Graduate teaching experience of more than 11 years.