International Journal For Multidisciplinary Research

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

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An Empirical Study on the Contribution of Financial Literacy in Regional Economic Development

Author(s) Ms. Aakanksha Bharat Padghan, Prof. Dr. Dinkar. P. Takale
Country India
Abstract The financial literacy means making smart financial decisions. The financial sector’s development is essential for regional economic development. This research paper will assess the financial literacy and calculate the correlation between financial literacy and regional economic development in Marathwada region of Maharashtra. This study will conduct a test on micro-level for improvement in financial literacy with the help of self-structured questionnaire and information pamphlet. The paired t-test will be used to analyze primary data collected through pre and post test of 40 samples. This t-test will examine that if provided with the related information, can individual financial literacy improved. Improved individual financial literacy will collectively affect regional economic development positively. As Marathwada region lacks resources, its drought prone area, 21.30 % loans are taken for unproductive purposes, 77% farmers are having land less than 5 acres, problem of non-performing assets. These issues can be reduced with financial literacy; it will help in managing budget, property and assets effectively. Therefore expected result of this research is financial literacy improvement leads to regional economic development of Marathwada region. This study will create linear regression model to estimate future expected development data.
Keywords Regional economic development, Financial Literacy, Marathwada region
Field Sociology > Economics
Published In Volume 8, Issue 1, January-February 2026
Published On 2026-02-10
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E-ISSN 2582-2160
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