In India, growth with equity has been the central objective right from the inception of the planning process. Accordingly, over the years, initiatives have been taken continuously by the government and the Reserve Bank of India to address the issue of inclusive growth. Notwithstanding the rapid increase in overall Gross Domestic Product and per capita income in recent years, a significant proportion of the population in both rural and urban areas still experiences difficult in accessing the formal financial system.
Recent concerns have arisen from an inadequate reduction in poverty levels, sectoral divergences in growth and employment opportunities and tardy improvement in other social indicators, despite higher economic growth. The 11th five year plan, therefore, reemphasized the need for a more inclusive growth in order to ensure that the per capita income growth is broader based. The farming, MSME, have immense potential to play a critical role in achieving the objective of faster and more inclusive growth as these sectors contributes to output and employment generation in a significant way with capacity to expand regionally diversified production and generating widely dispersed off farm employment.
Against the above back drop, this paper makes an attempt to access the financial inclusion. For that the credit and deposits of SCBs are taken into account.
Gross Domestic Product, Inflation, Credit Deployment, Deposit Creation
