International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

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Financial Inclusion as a Catalyst for Sustainable Development and Economic Growth in India

Author(s) Dr. Pooja Aggarwal
Country India
Abstract Financial inclusion is a critical driver of economic growth and sustainable development, ensuring equitable access to financial services for all sections of society, particularly low-income and marginalized groups. In India, financial inclusion has evolved through policy initiatives, banking reforms, and government schemes, such as the Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Mudra Yojana (PMMY), Atal Pension Yojana (APY), and Pradhan Mantri Jan Arogya Yojana (PM-JAY), which have expanded access to banking, credit, insurance, and pension facilities. By mobilizing savings, facilitating credit, and promoting entrepreneurship, financial inclusion strengthens capital formation, enhances income stability, and fosters economic empowerment. It also directly contributes to the achievement of multiple Sustainable Development Goals (SDGs), including poverty alleviation (SDG 1), zero hunger (SDG 2), good health and well-being (SDG 3), decent work and economic growth (SDG 8), and reduced inequalities (SDG 10). Despite significant progress, challenges such as dormant accounts, limited financial and digital literacy, infrastructure gaps, and the digital divide hinder the full potential of financial inclusion. This paper reviews existing literature, examines the role of financial inclusion in promoting sustainable development and economic growth in India, and highlights policy measures and strategic interventions necessary to overcome existing barriers. The findings suggest that integrated efforts combining financial access, education, and infrastructure development are essential for achieving inclusive and sustainable economic growth.
Keywords Financial Inclusion, Economic Growth, Sustainable Development Goals (SDGs), Financial Literacy and Inclusive Development
Field Business Administration
Published In Volume 8, Issue 1, January-February 2026
Published On 2026-02-05
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E-ISSN 2582-2160
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