Financial Inclusion And Growth Of Assam Economy: An Empirical Analysis

Abstract

The concept of financial inclusion is gaining consistent importance in the developing countries like India in the present decade. In short run it helps in uplifting the people living outside the horizon of financial inclusion by providing affordable financial products and services. In long run it assists financial deepening, inclusive growth and finally economic growth and development of a nation. Formal financial institutions act as the pillars of economic progress as it helps in plunging gap between rich and poor and eliminate poverty by providing door step banking services. Assam one of the largest populated states of NER is still lagging behind in terms of full inclusion in the financial sector. Present study attempts to observe the relationship between financial inclusion and GDP growth of Assam by adopting gross state domestic product as dependent variable and banks branches, available ATMs and C-D ratio as independent variable.