Sri Sri Institute of Management Studies, 678, St Joaquim Road, Borda Margao, Goa
Online published on 12 January, 2015.
For most underdeveloped countries, the low per capita income has many significant problems with the most serious being poverty which is in fact is closely associated with inequality. The affects of poverty are very often interrelated and hardly ever occurs in isolation and denies basic necessities of food, shelter and clothing along with socially marginalising the poor segment of society.
Therefore, to break this cycle of poverty, underdeveloped countries have to implement poverty alleviation programs not only to increase income levels among individuals or groups but also for poverty reduction amongst the poorest of the poor.
In India even with its high economic growth rate, still 21.9% or 270 million persons of the population are below the (Tendulkar poverty line). This paper will attempt to study the national schemes that have been implemented along with a brief understanding of the contribution of microfinance towards for poverty alleviation and its eradication.
Poverty, financial inclusion, self help groups, microfinance, below poverty line
