JJEM: Special Edition 3 (January 2025)
JJEM: Special Edition 3 (January 2025)
2025-01-20
The Impact of Financial literacy on Women's Economic Empowerment in India
Dr Sharma K R S, Vidyashree, Dr. Prathap B N
The relationship between financial literacy and women's economic empowerment has gained significant attention, particularly in developing countries. Financial literacy empowers women by enhancing their decision-making abilities, enabling them to manage their personal and business finances more effectively. Research studies highlight that economic empowerment, a key component of overall women's empowerment, plays a pivotal role in improving their financial well-being and decision-making power. Access to financial education equips women with the knowledge to understand financial concepts, including savings, investment, and budgeting, which directly impacts their economic stability. This empowerment also helps reduce gender inequalities in financial access and inclusion, thereby allowing women to participate more actively in economic activities. Several factors contribute to financial literacy, such as educational opportunities, social norms, and government policies. Fostering financial awareness among women, particularly in rural areas, communities witness not only personal but broader socioeconomic growth, contributing to sustainable development. Various programs are leads to financial literacy of women empowerment and economic development. Purpose: This research explores how financial education enhances women's decision-making abilities, various benefits and contributes to their economic stability and financial well-being towards women's economic empowerment particularly in developing countries. Originality/Value: The study provides new insights into the relationship between financial literacy and economic empowerment among women, practical recommendations for policy interventions aimed at improving women's access to financial education. Emphasizing its role in reducing gender disparities in financial inclusion. Created a conceptual model to achieve financial literacy, women empowerment and economic development. Analysed the data and interpreted. Paper Type: Research article - Conceptual study. Findings: The study finds that financial literacy significantly contributes to women's economic empowerment by increasing their financial autonomy and decision-making power. Women with higher financial literacy and community-based financial education programs demonstrate better management of savings, investments, and financial planning.
Financial literacy, women empowerment, economic development