Introduction Poverty remains one of the most pressing challenges in India, particularly in rural areas where limited access to resources, employment, and credit constrains development. Traditional welfare measures, though important, often fail to address the structural aspects of poverty, such as lack of assets, financial exclusion, and vulnerability to shocks. In this context, microfinance has…
Introduction India’s economic journey over the past three decades has been marked by periods of robust growth, liberalization-led industrial expansion, and rapid technological progress. Since the economic reforms of 1991, India has consistently achieved high GDP growth rates, at times exceeding 7–8% per annum. This rapid economic expansion has positioned India as one of the…
Introduction The Twelfth Five-Year Plan (2012–17) marked the last in the series of Five-Year Plans implemented by the Planning Commission of India before its dissolution in 2014. The Plan was a continuation of the country’s strategy for inclusive, sustainable, and rapid economic growth, building upon the achievements of previous plans. Formulated in the backdrop of…
Introduction Economic reforms refer to structural changes in policies, laws, and institutions undertaken by a government to improve the efficiency, productivity, and growth potential of an economy. They are aimed at liberalizing the economy, reducing inefficiencies, promoting competition, and integrating the country with the global economy. In the context of India, economic reforms have been…
Introduction Measuring the development of nations is a complex task that goes beyond mere economic growth. While GDP or GNP provide insights into a country’s economic capacity, they do not reflect the quality of life, social welfare, equity, and human well-being. To address this, scholars, international organizations, and policymakers have developed various indices that evaluate…
Introduction Social justice is a cornerstone of the Indian Constitution and a guiding principle of governance. It emphasizes equity, inclusivity, and protection of vulnerable groups. Welfare schemes, both at the central and state levels, play a crucial role in empowering disadvantaged communities by addressing issues of poverty, inequality, gender discrimination, disability, and economic marginalization. In…
Introduction Micro, Small, and Medium Enterprises (MSMEs) play a pivotal role in India’s economic landscape. Often referred to as the backbone of the Indian economy, MSMEs contribute significantly to GDP, employment generation, export promotion, and regional development. These enterprises act as a bridge between large industries and the grassroots economy, promoting entrepreneurship, innovation, and inclusive…
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 India’s economic growth story since the 1990s has been marked by robust GDP expansion. However, a striking paradox has emerged in recent years—despite steady or even high economic growth, employment generation has not kept pace. This phenomenon, commonly referred to as jobless growth, is one of the most pressing challenges facing the Indian economy…