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International Journal for Research Trends and Innovation
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ISSN Approved Journal No: 2456-3315 | Impact factor: 8.14 | ESTD Year: 2016
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Impact Factor : 8.14
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| Paper Title: | Inclusive Finance: Fueling India`s Journey to a USD 5 Trillion Economy |
| Authors Name: | Varnita Gupta , Prof. Mukulika Hitkari |
| Download E-Certificate: | Download |
| Author Reg. ID: |
IJRTI_190090
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| Published Paper Id: | IJRTI2406091 |
| Published In: | Volume 9 Issue 6, June-2024 |
| DOI: | http://doi.one/10.1729/Journal.42751 |
| Abstract: | India aims to transform into 'Viksit Bharat' by 2047 during the 'Amrit kaal' period, setting a landmark goal of achieving a $5 trillion economy by 2027-28. This ambitious objective necessitates the active participation of every citizen in nation-building. Financial inclusion stands as a pivotal pillar in any economy, crucial for fostering economic growth by ensuring affordable access to financial services for vulnerable and marginalized sectors of society. This inclusivity in the financial system significantly boosts economic activity by facilitating the mobilization of savings and funds for investments, thereby enhancing consumption and income levels across the economy. The introduction of PMJDY marked a critical step towards this goal. This study explores how financial inclusion can catalyze India's path to a $5 trillion economy, emphasizing the importance of comprehensive financial services encompassing banking, insurance, and pension products. It also underscores the role of financial literacy in promoting broader financial inclusion. Moreover, the paper addresses challenges within the financial sector that hinder growth prospects and proposes strategies to overcome these barriers. The paper employs descriptive methodology based on secondary data to examine the significance of financial inclusion in realizing India's economic ambitions. The findings of the study underscore the imperative of advancing financial inclusion efforts to foster more equitable economic growth. |
| Keywords: | Financial Inclusion, Financial services, Economic growth, $5 trillion economy, Financial Literacy, PMJDY |
| Cite Article: | "Inclusive Finance: Fueling India`s Journey to a USD 5 Trillion Economy", International Journal of Science & Engineering Development Research (www.ijrti.org), ISSN:2455-2631, Vol.9, Issue 6, page no.621 - 628, June-2024, Available :http://www.ijrti.org/papers/IJRTI2406091.pdf |
| Downloads: | 000205270 |
| ISSN: |
2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID: IJRTI2406091
Registration ID:190090
Published In: Volume 9 Issue 6, June-2024
DOI (Digital Object Identifier): http://doi.one/10.1729/Journal.42751
Page No: 621 - 628 Country: Kanpur, Uttar Pradesh, India Research Area: Social Science and Humanities Publisher : IJ Publication Published Paper URL : https://www.ijrti.org/viewpaperforall?paper=IJRTI2406091 Published Paper PDF: https://www.ijrti.org/papers/IJRTI2406091 |
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ISSN: 2456-3315
Impact Factor: 8.14 and ISSN APPROVED,
Journal Starting Year (ESTD) : 2016
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