'Micro-Finance' A Step towards Economic evelopment-A Comparative Study of Hubli-Dharwad Twin City

摘要

Micro-credit, which includes micro savings, is gradually emerging as one of the most effective strategies to alleviate poverty. It can effectively generate employment and sustain the income of the household by giving them opportunities to work. Micro-finance programmes for women are promoted not only as a strategy for poverty alleviation but for women empowerment as well. Empowerment has been considered both an end and as a means of development .The formation of self help groups is not ultimately a micro-credit project but an empowerment process. The concept aims at empowering women and thus uplifting them above the poverty line. It is a gradual process resulting from interaction with group members through awareness and capacity building. Building capacity refers to the strengthening of ability to undertake economic, social, cultural and political activities, and enhance self-respect. Capacity to undertake economic activities includes ownership and control of productive resources and alternative employment opportunities at local levels. It has been proved that economic empowerment could have a positive impact in other spheres as well, enhanced social, legal, and political status. Capacity to undertake social, cultural activities encompasses ability to participate in non-family group meetings, to interact effectively in the public sphere, to create mutual dependence and to ensure mobility and visibility. This paper focuses on the building economic strength of poor people through micro finance, and its contribution to strengthening Indian economy and creating micro and small business opportunities in different areas.