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INCOME AND EXPENDITURE PATTERN OF INDIA POST: AN ANALYTICAL STUDY

  • Unique Paper ID: 152949
  • Volume: 8
  • Issue: 5
  • PageNo: 105-112
  • Abstract:
  • Globally, multiple socio- economic deterrents being faced by varied classes and social groups have been increasing day by day. These hindrances limit the access of the masses to resources, technology, education, finance, market and quality of life. Rather, access to financial services by the poor and vulnerable groups is a pre-requisite for poverty reduction which is an integral part of socio – economic empowerment in any region. Both the Reserve Bank of India and Government of India have been entrusted with responsibility of promoting the financial inclusion by different schemes since the year,1969. Conceptually, financially inclusion, thus, denotes the delivery of financial services at an affordable costs to the disadvantaged and low –income groups in a society. It improves their financial conditions, living standards, creates financial assets, generates income and builds resilience. These services include the facilities such as deposits, savings, insurance, payments etc. A small loan, a savings bank account and an insurance policy can make a great difference to the poor and a low income family. It enables the poor to have better standard of living. Keeping in view, the Government’s financial inclusion plan has always been aiming at extending financial services to the disadvantaged sections of the society at affordable costs. In this endeavor, amongst all other financial institutions, India Post has been facilitating the Government of India in its plan for financial inclusion besides mobilizing deposits, especially in the under – served, rural and semi- urban areas of the country. It offers services by launching various investment schemes to meet the varied needs of the masses throughout the country, particularly in the remote areas through its huge network. In a bird’s eye view, India has been leaving no stones unturned to achieve its objectives of accelerating the socio- economic development by undertaking the appropriate ventures. However, it is still lacking behind as compared with other developing countries in the world. Consequently, majority of the households are remaining unbanked and about the 90 percent of the villages are not fully covered by the umbrella of financial inclus
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Cite This Article

  • ISSN: 2349-6002
  • Volume: 8
  • Issue: 5
  • PageNo: 105-112

INCOME AND EXPENDITURE PATTERN OF INDIA POST: AN ANALYTICAL STUDY

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