A Study on the Effect of Financial Inclusion on Poverty and Economic Growth

Abstract

The term ‘financial inclusion’ means to include all individuals financially, mainly the poor section of the society. The primary objective of this study is to find out whether there is any relation or whether financial inclusion index influences poverty lines of selected 19 countries of Asia (including India) during the pre-pandemic year 2019. This study is based on the statistics provided by the PovcalNet which is a computational tool used by the World Bank in calculating the estimates of the extent of absolute poverty in the world. This study mainly focused on head count ratio (HCR) and poverty-gap of selected Asian countries fall under three different levels of financial inclusion index.