Introduction In the context of global economic development, financial inclusion refers to the process of ensuring that individuals and businesses, regardless of their financial status, have access to useful and affordable financial products and services. These include payments, credit, insurance, and savings that are delivered in a responsible and sustainable manner. In India, financial inclusion…
Introduction Financial inclusion has emerged as a cornerstone of equitable economic development in the 21st century. It refers to the process of ensuring access to appropriate financial products and services—such as savings accounts, credit, insurance, pensions, and digital payments—to all sections of society, particularly the underprivileged and marginalized. In a country like India, with its…
Introduction Direct Benefit Transfer (DBT) is a transformative policy initiative launched by the Government of India to enhance the efficiency and transparency of welfare schemes. It aims to directly transfer subsidies and benefits to the beneficiaries’ bank accounts, thereby eliminating intermediaries, reducing leakages, and ensuring the targeted delivery of government assistance. Introduced in 2013, DBT…
Introduction Inclusive growth is a development approach that ensures economic expansion benefits all sections of society, particularly the marginalized and disadvantaged groups. It goes beyond mere GDP growth and emphasizes equitable distribution of wealth, access to opportunities, and social justice. For a country like India, where disparities in income, social status, and access to resources…
Introduction In the modern world, digital payments have emerged as a transformative force, reshaping the financial landscape. The advent of digital financial services has created unprecedented opportunities for financial inclusion, enabling millions of people worldwide to access banking services that were previously unavailable to them. Digital payments facilitate economic participation, enhance financial literacy, and empower…
Introduction Happiness is one of the most sought-after yet elusive concepts in human life. While different cultures and philosophies have debated its meaning, the modern world largely associates happiness with material wealth and consumption. A consumerist society, driven by advertisements, social status, and economic growth, often promotes the idea that happiness can be purchased. From…
Introduction Globalization is a complex and multifaceted phenomenon that refers to the increasing interconnectedness of economies, societies, and cultures across the world. It is characterized by the flow of goods, services, technology, capital, information, and labor across borders. The process of globalization has been accelerated by advancements in transportation, communication, and economic liberalization. In India,…
Self-Help Groups (SHGs) have emerged as a powerful tool for social and economic empowerment, particularly in rural and underserved areas of India. These groups, primarily formed by women, are designed to provide members with opportunities for financial inclusion, skill development, and community support. While SHGs have contributed significantly to poverty alleviation, social cohesion, and financial…
The Indian Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, aims to address the pressing needs of various sections of society, with a particular focus on the middle class. Recognizing the significant role that the middle class plays in the country’s economic growth, the government has announced several measures to ease their financial burdens,…
Introduction Inclusive growth has emerged as the cornerstone of India’s development strategy. It aims to ensure that economic progress benefits all sections of society, particularly marginalized and disadvantaged groups. Unlike traditional economic growth, which focuses solely on GDP expansion, inclusive growth emphasizes equitable distribution of wealth, access to basic services, and opportunities for all. In…