Authors : Amit V. Agrawal, Dr. Yogesh K. Agrawal
Page Nos : 11-15
Description :
The direction of development of a country depends on its good economic condition. Therefore, if any country wants to develop, then rural development is necessary. That is why various schemes are devised to improve the economy of the country. Despite this, in most cases development plans do not reach the rural masses of the country. Concepts like microfinance have emerged to help people in rural areas in such situations. Under microfinance, they are not only given loans, but also training for the whole process.
The Government of India has provided loans to poor rural families, smallholder farmers, agricultural labourers, rural artisans, non-agricultural labourers living in rural areas of the country, which make a living by doing small and big jobs, so that they can become self-employed, start their own business. Microfinance is a form of financial services for entrepreneurs, small businesses as well as rural people who do not have access to banking and related services. Microfinance is a wide range of services, including microcredit. If India wants to become an economic superpower, it is imperative to double the income of farmers and develop rural areas.
