Microfinance and its economic impact on farmers in Mohali district of Punjab Online publication date: Mon, 20-Apr-2020
by Nishat Ahtesham
International Journal of Public Sector Performance Management (IJPSPM), Vol. 6, No. 2, 2020
Abstract: 'Microfinance', as the name suggests, is the facility provided to certain sections of society in the form of small sized credit. The purpose of microfinance is to improve the economic standards of people while improving their livelihood. Microfinance is assumed to reduce poverty levels among people and is supposed to be inversely proportional to poverty. It means, that higher the microfinance lesser will be the poverty in a country. The concept of microfinance has penetrated through an array of medium in order to cater to the needs of those who do not have easy access to finance, either due to social or economic conditions. The study aims to find out the economic impact of microfinance on lives of farmers in the Mohali district of Punjab. An effective sample of 93 respondents was used to gather the requisite information and undergo analysis. Descriptive statistics along with T-test and one-way ANOVA has been used to analyse the data. The research concludes with an overall positive impact on economic well-being of farmers in the district under study.
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