The Need for Socio-Economic Financial Support & its Impact on Economic Development: A Critical Analysis
A. V. N. Murty1, A. Pandu Ranga Rao2, K. S. L. N. S. Subrahmaniam3
1A. V. N. Murty, Prof., Department of Management, K. L. University, Vaddeswaram, A.P, India.
2A. Pandu Ranga Rao, Asst. Director, K. L. University, Vaddeswaram, A.P, India.
3K. S. L. N. S Subrahmaniam, Assoc. Prof., Department of Management, K.L.University, Vaddeswaram, A.P, India.
Manuscript Received on August 11, 2014. | Revised Manuscript Received on August 12, 2014. | Manuscript published on August 15, 2014. | PP: 1-7 | Volume-1 Issue-1, August 2014.
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Abstract: According to the recent research made by the World Bank, India has almost one third of worlds’ poor population. Though many central government and state government poverty alleviation programmes are currently active in India. Micro Finance plays a major contribution in financial inclusion. In Bangladesh Micro credit model of Mohammed younus‘s Grameen Bank has proved to be very sueessful because every year five percent of people are coming out of poverty line with the participation of Micro Finance schemes of Grameen Bank. It was also revealed that the micro credit was useful to the participant in increasing (a) Per capita expenditure (b) Net worth (c) Children schooling and at village level, borrowing had a positive impact on (a) Production (b)Income (c) Employment (d)Wages (e)School enrollment (f)Fertility.
Keywords: Grameen, enrollment, Fertility.