The Growth And Poverty Improvement Of A Country Essay

CHAPTER 1 1.1.1 INTERNSHIP INTRODUCTION Finance is assumed to be one of the most important tools for the growth and poverty improvement in a country. Financial inclusion is a vision for every country to achieve so that it can provide quality services to its citizens. Govt. Has introduces many schemes to achieve the aim of Inclusive growth and abandoned access to Financial services. Many initiatives, schemes and reforms have been put into the place after independence. Many Cooperative Banks where introduced to supply credit for farming purpose and for this cooperative banks came into existence immediately after Independence and further it was followed by the nationalization of many banks and priority sector lending and subsequently. Indian shifted from an agriculture economy to Industrial economy and later to Services sector Economy, but center of attention shifted from subsidized credit and to important sector lending to enterprise driven. But in this journey of economic development poor and disadvantaged people were not ignored in this journey of economic growth and economic stability. But Post liberalisation India (1991 onwards) saw numerous changes in the financial area; interest rate free licensing, de-regulation, privatization has opened india to the world. Keeping its socialist goals in wits Government of India took various steps after 1991 i.e (post-liberalisation) that the growth in the economy is not biased so that theShow MoreRelatedIndi Poverty And Inequality1308 Words   |  6 Pageslow and a high income within an economy. Poverty is defined as being in the state of extremely poor. India is well renowned for having two classes, those living well above the poverty line, and those living well below. Currently, India is promoting strategies to decrease their percentage of people living under the poverty line. 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