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Professional Banker Magazine:
Empowerment Through Microfinance
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Inclusive growth in the context of globalization is not merely financial inclusion of the poor. It involves infrastructure inclusiveness, digital inclusiveness, social and rural inclusiveness.

 
 
 

Poverty has been degrading human lives for centuries. Reduction of poverty will be one of the greatest achievements of any economy. As a matter of fact, India's performance in this regard the recent years has been among the best in the world.

The prowess of India in the field of Information Technology (IT), biotech, pharmacy and various other manufacturing segments, etc., is being recognized all over the world. According to the National Sample Survey Organization (NSSO), this high growth has led to a decline in the incidence of poverty _ from 26% in 2000-2001 to 22.15% in 2004-2005, i.e., the poorer sections of the population reduced from 320 millions to 260 millions. In spite of these improvements, most of the health indicators and poverty-related education still show disturbing rural-urban gaps and a wide variation across the states.

The Bharat Nirman Program, which was started two years back, emphasizes on the alleviation of poverty through the development of rural infrastructure. Its objective is to ensure that the benefits of various government schemes for the underprivileged reach the targeted poorer sections. The government has to take the lead in generating new knowledge among the rural masses and remove knowledge disparities.

 
 
 

Professional Banker Magazine, Empowerment Through Microfinance, Information Technology, National Sample Survey Organization, NSSO, Self-Help Groups, SHGs, Public Sector Banks, Rural Economy, National Sample Survey Organization , NSSO, Women Empowerment.