Abstract
This paper is based on the premise of microfinance for financial inclusion mechanism leading to the development of social systems and subsystems in Gujarat. The study also tries to examine microfinance model and implications in the context of various initiatives taken by the government and non-government agencies in Gujarat supported by field evidences. The present study relied on both theoretical and empirical methodologies. Field data comprised 225-sample size, collected through systematic sampling in Gujarat; secondary data has been compiled from relevant print and electronic sources. Findings suggest that microfinance interventions should not be limited to credit deployment; rather, they should focus on group formation, savings, livelihood promotion, enterprise development and marketing of produce. The paper concludes that microfinance plays an important role in socio-economic development.
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