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An Investigation into the Relationship Between Financial Inclusion and Economic Development of Indian States

Year: 2024

Type: article

Abstract: The issue of inclusive growth is placed on the agenda of policy-makers across the globe. Though the governments of various countries have been considering financial inclusion as a weapon to combat poverty and to foster growth and development in the economy, there is an incongruency in the inclusion-growth nexus. This empirical study explores the relationship between these two variables in the Indian context. The researchers collect state-level data on parameters of economic development and financial inclusion over the period 2015 to 2020 to achieve the objective. The investigators compute a weighted composite index for economic development and financial inclusion of different states of India with the application of data reduction technique. The study finds a strong positive relationship between financial inclusion and economicdevelopment .

Source: ANUSANDHAN – NDIM s Journal of Business and Management Research

DOI: 10.56411/anusandhan.2024.v6i2.1-12

Authors: Dr. Md. Wakil Hossain, Dr. Abhijit Sinha, Dr. Tagar Lal Khan

Institution: Vidyasagar University

Language: English

Topic: Microfinance and Financial Inclusion

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Decent work and economic growth, No poverty, Reduced inequalities

Open Access status: diamond

OpenAlex ID: W4403470659

FWCI:

Cites: 7

Cited by:

Related to: 10