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

Authors: Vinay Kandpal; Neeraj Nautiyal

Addresses: School of Business, University of Petroleum and Energy Studies, Knowledge Acres, Dehradun Uttarakhand, India ' Department of Management, Graphic Era Hill University, Bhimtal, Uttarakhand, India

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.

DOI: 10.1504/IJBIR.2023.134654

International Journal of Business Innovation and Research, 2023 Vol.32 No.2, pp.260 - 279

Received: 20 Oct 2020
Accepted: 29 Apr 2021
Published online: 03 Nov 2023 *

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