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Twin pillars: Financial literacy & financial inclusionevidence from Gujarat

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Original Article

Author Details : Devang Mehta*

Volume : 11, Issue : 4, Year : 2024

Article Page : 249-256

https://doi.org/10.18231/j.jmra.2024.042

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Abstract

India has been independent for more than 70 years now and in the recent times, the focus has strongly shifted to development policy along with financial reformation. Financial inclusion has therefore been on the agenda for the Central government as well as the Reserve Bank of India. For a nation to be financially inclusive, the population needs to be financially literate. A close reading of existing literature in this domain brings out that majority of the studies have been conducted on three variables - financial literacy, financial development and economic growth. In order to add to the existing body of research and knowledge, this paper is an attempt to inquire about the difference between ‘financial literacy’ and ‘financial awareness’ to be able to understand what can actually lead to ‘financial inclusion’ in the nation. Primary data has been collected from the urban individuals from two major cities of Gujarat and subsequent data analysis using statistical tools has been carried out.

Keywords: Financial Literacy, Financial Inclusion, Investments, Savings, Spending

How to cite : Mehta D, Twin pillars: Financial literacy & financial inclusionevidence from Gujarat. J Manag Res Anal 2024;11(4):249-256

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