Household Debt, Financial Inclusion, and Economic Growth of India: Is it Alarming for India?

Asian Economic and Financial Review

article

Tarika Sikarwar¹  Anivesh Goyal²  Harshita Mathur² 

[1] Professor, Prestige Institute of Management Gwalior;Student, Prestige Institute of Management Gwalior

关键词: Household debt;    Financial inclusion;    Economic growth;    GDP;    India;    Economy etc.;   

DOI  :  10.18488/journal.aefr.2020.102.229.248

学科分类：社会科学、人文和艺术（综合）

来源: Asian Economic and Social Society

【 摘 要 】

The process of economic growth must strive to include participation from all sections. In India, inclusive growth has always been a priority. The agenda of inclusive growth is reflected in the kind of policies and regulations that the policymaking and regulating institutions have been developing over the past decade. From Agricultural Economy to developing economy, India has come a long way in implementing financial sector reforms especially related to financial inclusion. The motive is economic growth. The present study was done to find the causal relationship between India’s financial inclusion and economic growth and household debt and economic growth using indicators for financial inclusion, household debt, and economic growth. The relationship was checked using the linear regression technique. The results indicated that only three out of ninety-six indicators of financial inclusion affected economic growth but. Household debt and economic growth have a negative relationship. The results have serious policy implications in India as India is moving towards financial inclusion.

【 授权许可】

CC BY