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Research Paper | Economics | India | Volume 12 Issue 11, November 2023 | Popularity: 5.1 / 10

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Critical Analysis of Self - Help Group in Economic Development

Amar Kuldeep Guria

Abstract: This dissertation critically examines the effectiveness of self - help groups (SHGs) in promoting economic development, focusing on the interplay between participant engagement, financial literacy, and access to resources in shaping the sustainability and economic impact of SHGs on members' financial well - being. Using a mixed - methods approach, the study employs qualitative interviews to capture the personal experiences of SHG members and quantitative data to assess economic performance metrics. The findings reveal that active participant engagement and higher levels of financial literacy significantly enhance the operational effectiveness of SHGs, leading to improved economic outcomes for members. Furthermore, access to resources, including training and financial products, is identified as a critical factor influencing the success and longevity of SHGs. These insights highlight the importance of tailored educational programs and resource allocation in maximizing the economic potential of SHGs. The significance of this research extends beyond economic development, as enhancing the financial status of SHG members can lead to improved health outcomes and greater community resilience, thereby bridging a crucial gap between the economic and healthcare sectors. Ultimately, this study contributes to the broader discourse on sustainable development by demonstrating how empowered communities through SHGs can serve as a model for integrated approaches to economic and health improvements, suggesting that policies promoting SHGs may yield extensive benefits beyond immediate financial gains.

Keywords: SHG, Finance, Economy, Development

Edition: Volume 12 Issue 11, November 2023

Pages: 2248 - 2251

DOI: https://www.doi.org/10.21275/SR231114175132

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