Women's empowerment: key for socio-economic development in India

Vinay Kandpal and Neeraj Nautiyal

International Journal of Business Innovation and Research, 2023, vol. 32, issue 2, 260-279

Abstract: This paper attempts to analyse the role of microfinance institutions and self-help groups (SHGs) in people's empowerment, especially women living in rural areas through placements or job opportunities across different sectors, thus removing gender stereotypes prevailing in society and removing the migration issue in India. Women in India earn a median gross salary of Rs.196 per hour, 19% lower than Rs.242 for men, according to the latest Monster Salary Index. Wage inequalities are the highest in IT/ITES (26%) and manufacturing (24%), but even female-intensive sectors such as healthcare and social work show a steep pay gap (21%). To promote gender equality and the entrepreneurial spirit, it is inevitable to finance women for various small and local start-ups.

Keywords: self-help group; SHG; financial inclusion; micro financial institutions; banks. (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijbire:v:32:y:2023:i:2:p:260-279

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