India has grown into a global powerhouse. Its economy is soaring but the picture on the ground is still quite arid. Most Indians are hapless victims of inequity. India is one country where intense poverty abounds in the shadow of immense wealth.
FINANCIAL INCLUSION: CONCEPTS AND OVERVIEW IN INDIAN CONTEXT
(DOC) Role of financial inclusion for inclusive growth | Bhargab Kalita - discoverynetworks.info
While, for Pakistan the situation is not very bright, as a large savings-investment gap is not desirable for the country in the long run because of its negative impact on macro-economic stability. And the prevailing rates of investment and savings in Pakistan are not adequate to support future economic growth at the socially necessary rate of 7 per cent per annum Pakistan therefore has no alternative but to make determined efforts to raise significantly its national savings and investment…. This can be highlighted through; schools being unable to educate or teach students IT skills, preventing them from taking advantage of the huge amounts of information accessible through the web. Therefore people are not growing up with the skills required to get ahead or keep up with this digital era.
What is Meant by Inclusive Growth and Why it is Important ?
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Financial inclusion refers to the financial services at very reasonable price to lower income groups or to those who cannot afford. Financial inclusion is making a habit of people to save their money in banks and get interests from banks instead going over to the people like money lenders. Chakraborthy, the chairman of Indian Bank.