A Study of Impact of Micro Credit on Socioeconomic Development of Low Income Groups of Central Uttar Pradesh

Abstract

Development alone cannot bring peace and prosperity unless newlinesocial justice and gender equality are ensured. It has been well newlineaccepted that various development programmes have by passed rural newlinepoor who constitute about half of the population of the country. newlineInternational conventions and conferences, legal enactment, newlineconstitutional provisions etc. highlighted the imperative need for gender newlineequality and rural upliftment. The rural poor, with the intermediation of newlinevoluntary organizations join together for self-help to secure better newlineeconomic growth. This has resulted in the formation of a large number newlineof self help groups in the country, which mobilize savings and recycle newlinethe resources generated among the members. SHGs are necessary to newlineovercome exploitation, create confidence for the economic self-reliance newlineof the rural poor. These groups enable them to come together for a newlinecommon objective and gain strength from each other to deal with newlineexploitation, which they are facing, in several forms. A group becomes newlinethe basis for action and change. Significantly, credit is a major factor in newlineboosting economic development if it is effectively utilized. The newlinegovernment s recent initiatives to streamline credit operations and newlinedelivery system through micro finance movement and strengthening newlineand expansion of credit institutions (SHGs) can definitely help in the newlinerevival of rural economy and empowerment of the rural poor. Microcredit newlineintervention programme has been well recognized world over as newlinean effective tool for poverty alleviation and improving socio-economic newlineconditions of rural poor. In India too, micro finance is making a strong newlineheadway in its efforts to reduce poverty and empower the rural poor. newlinePresent study has been planned in seven chapters. Chapter 1st is newlineintroductory one which deals with conceptualization of micro credit, newlineSHGs, bank linkages, priority sector lending, etc. Chapter 2nd deals with newlinereview of literature pertaining to micro credit and its related issues. newlineChapter 3rd is concerned with rationale, objectives and research