ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Articles By Suresh Babu M

Outreach of Formal Banking Services and Financial Inclusion

This paper attempts to examine financial inclusiveness in major states of India. Using banking outreach services data from 1981 to 2018, we construct an index of financial inclusion. Although the outreach of formal banking services is well-dispersed across the states, there is a large variation among the states in terms of its access and usage. The evidence suggest that there exists a need to focus more on spreading financial literacy and create awareness about banking services in the poorer states to achieve a higher degree of financial inclusion.

Budget and Growth

The current wave of economic growth is not unique to India, it is a global phenomenon. India's average growth rate over 2000-04 is identical to that of other emerging market and developing economies, though it is lower than that of developing Asia. Growth has been consumption led, via credit expansion, and yet there are no specific measures to stimulate savings and investments or enhance productivity in the 2006-07 budget.