Impact Of Microfinance Programme On Socio-Economic Empowerment In Haryana State

Abstract

Purpose: To study the socio-economic characteristics of the sample households and to analyze the saving and credit pattern of SHG’s members.

Design/Methodology/Approach: The present study is empirical in nature as it is mainly based on primary data which was collected through interview schedule during field survey. A multistage random sampling method was adopted for the study. The collected data was analyzed with the help of various statistical tools like Frequency, Percentages, Means, Standard Deviations, and Coefficient of Variation. To prove the hypotheses, some tests like t-test (paired), Z test and Chi-square (ᵡ²) test also used in the study.

Findings: Microfinance has helped in increasing income/savings levels and number of assets which resulted in improvement in quality of life, satisfaction and esteem of the members thus leading to their empowerment. SHGs had positive impact on the employment and income of members. Microfinance programmes raised members above poverty line and enhanced their socio economic status.

Research Implications/Limitations: The study was considered only in one district of Haryana (India) i.e. Mewat District.

Practical Implications: Contributes to the body of knowledge on impact and success of microfinance programme and its implications for government and non government agencies and organisations for policy formulation regarding microfinance.

Originality/Value: The paper identifies a framework of relevant values and facilities that will be of use to those interested in this field.