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Assessing Rural Livelihoods: Financial Inclusion and SocioEconomic Well-Being in Nayagarh, Odisha

Year: 2025

Type: article

Abstract: This study explores the link between financial inclusion and the overall well-being of rural households in Nayagarh, ‎Odisha, using a mixed-methods approach that combines survey data from 600 households with insights from focus ‎group discussions and stakeholder interviews. The findings suggest that financial inclusion significantly improves ‎financial well-being by increasing household income, reducing dependence on informal credit, and enhancing ‎financial stability. Additionally, it has a positive impact on social well-being, enabling households to participate ‎more in their communities and build social connections. Financial inclusion also reduces financial stress, promotes ‎psychological well-being, and empowers women in decision-making. The study highlights the importance of ‎inclusive policies that integrate financial services with broader rural development initiatives and suggests that ‎policymakers should consider multiple dimensions of well-being, including perceived financial security and social ‎participation. By recognizing financial inclusion as a key driver of social, psychological, and livelihood security, the ‎study provides valuable insights for policymakers and practitioners‎.

Source: International Journal of Accounting and Economics Studies

DOI: 10.14419/dt2zxb28

Authors: Mr. Mrutyunjay Panda, Mr. Bidyadhar Padhi, Mr. Mahendra Prasad Agasty, Dr. Prakash Chandra Dash

Topic: Microfinance and Financial Inclusion

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

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

Open Access status: bronze

OpenAlex ID: W4415992576

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