Evaluation of the Elements Affecting Government Plans to Escalate Financial Literacy Among Women in Rural India

The current study aims to identify the variables that affect a developing nation's adoption of government-sponsored financial literacy initiatives. Under the Financial Literacy Plan, the Indian government has implemented several programs, including the Pradhan Mantri Jan Dhan Yojna (PMJDY), which was initiated in 2014 with the goal of providing universal banking services to the unbanked and funding the unfunded.

The Jan Dhan account has been connected to Aadhar and mobile phones to show the government's dedication to digital India [Jan Dhan - Aadhar - Mobile (JAM)]. The government also started the Pradhan Mantri Mudra Yojana to finance small business units. The Stand-Up India initiative was also started to encourage women and SC/ST individuals to start their own businesses by providing bank loans and other financial services. The government has introduced the Pradhan Mantri Suraksha Bima Yojna (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojna (PMJBY) social security programs under the Financial Literacy strategy. The study identified the challenges associated with successfully implementing these strategies.

A questionnaire based on a theoretical model and a literature review was used to survey 2354 people in the Ghaziabad area of Uttar Pradesh, India.

The analysis highlights the problems and contributing elements to effectively executing different government programs under the Financial Literacy Plan. The difficulties people have accessing the aforementioned government services are also identified in this study.