Abstract
This paper makes an attempt to evaluate the effectiveness of microfinance on empowerment of women. A crosssectional research on 215 women in the State of Andhra Pradesh, India through a structured questionnaire was conducted. Population of study is women who are associated with Self Help Groups (SHG’s). These women are married and have at least one child. Exploratory factor analysis is used to study the indicators of women empowerment. Results reveal that indicators of women empowerment are household economic decision making, legal awareness, mobility, economic security and family decision making. Five hypotheses are developed to evaluate the effectiveness of microfinance on empowerment of women for mentioned five indicators. Paired samples t test is used to know the difference in women’s perception before joining microfinance program and after joining microfinance program. The findings of this study reveal that microfinance is a powerful tool in enhancing women empowerment for its all indicators like household economic decision making, legal awareness, mobility, economic security and family decision making.
Highlights
Empowering women is a vital tool for alleviating poverty
Primary data is collected through a structured questionnaire from 215 women who are associated with SHGs in the State of Andhra Pradesh
It is difficult to evaluate the effectiveness of microfinance program on women empowerment because measurement of women empowerment is a difficult task
Summary
Empowering women is a vital tool for alleviating poverty. Empowered women contribute to the health and productivity of whole families and communities and to improved prospects for the generation [1]. There have been several institutions advocating for women empowerment, but women are still poor and vulnerable as compared to men. Rural women play a significant role in the domestic and socio-economic life of the society and national development is not possible without developing this segment of the society [2]. For the development of poor women it is essential to improve their economic and social status. When their economic, cultural and social status improves, it is known as women empowerment [3]
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