ECONOMIC BARRIERS AND FINANCIAL CHALLENGES IN TRIBAL AREAS: A FACTOR ANALYSIS INVESTIGATION
Abstract
This study examines the underlying causes of financial challenges in the tribal areas of Alluri Sitarama Raju (ASR) and Prakasam Districts in Andhra Pradesh, with an emphasis on identifying key determinants through a factor analysis approach. Based on primary data collected from these regions, the analysis reveals that tribal communities face significant barriers to financial stability, including limited access to formal financial services, inadequate infrastructure, low levels of educational attainment, and restricted employment opportunities. These challenges impede progress toward financial sovereignty, leaving tribal populations vulnerable to economic fluctuations and hampering efforts to reduce poverty.
The findings underscore the critical need for targeted interventions in tribal areas if India is to achieve its $5 trillion economic target by 2025. Strengthening the financial resilience of these communities requires a combination of infrastructural improvements, inclusive financial policies, and community-based development initiatives that address the unique economic constraints faced by tribal populations. This study provides valuable insights for policymakers and stakeholders to design effective programs that promote sustainable economic growth and financial inclusion in rural tribal regions.
References
I. Basu, K., & Srivastava, S. (2019). Financial literacy and its impact on financial inclusion in rural India. Journal of Rural Development , 38(2), 211-230.
II. Chakrabarty, K. C. (2012). Financial inclusion: Challenges and opportunities. Reserve Bank of India Bulletin , 66(4), 9-14.
III. Gupta, R. (2021). Empowering rural women: The role of microfinance and entrepreneurship. Journal of Tribal Economic Development , 45(3), 188-201.
IV. Kumar, A. (2019). The role of digital financial inclusion in tribal areas. International Journal of Financial Inclusion , 22(1), 45-56.
V. Mishra, P. (2020). Socio-economic barriers to development in tribal communities. Tribal Studies Journal , 15(4), 112-125.
VI. Patel, V. (2017). The impact of low literacy rates on economic development in rural areas. Indian Economic Review , 40(3), 47-58.
VII. Reddy, S., & Devi, L. (2015). Infrastructure challenges in rural India and their effects on financial inclusion. Journal of Infrastructure and Development , 31(2), 157-172.
VIII. Sarkar, S., & Datta, P. (2019). Factor analysis of economic instability in rural areas. International Journal of Rural Economics , 33(1), 65-79.
IX. Shah, S., & Shah, P. (2020). The effectiveness of government schemes in tribal areas: A case study. Journal of Rural Policy and Governance , 28(2), 99-115.
X. Venkateswarlu, S., & Devi, K. (2016). Microfinance policies and their implications for rural economies. Indian Journal of Financial Studies , 48(1), 22-34.
XI. Narayan, S., & Patil, G. (2019). A multidimensional poverty index approach to tribal development: Case studies from India. Development Policy Review, 37(5), 833-849.
XII. Mukherjee, A. (2018). Applying the capability approach to understand poverty in tribal areas. Social Science and Rural Development, 19(2), 142-158.
XIII. Singh, R., & Raj, D. (2016). Integrated Tribal Development Agency (ITDA) initiatives: Evaluating success in poverty alleviation. Indian Journal of Development Economics, 24(3), 287-299.
XIV. Pradhan, S. (2018). Rural banking access and the effectiveness of PMJDY in remote areas. Journal of Financial Access and Inclusion, 12(4), 88-102.
XV. Sharma, V., & Yadav, R. (2021). Understanding the socio-economic impact of MGNREGA on rural livelihoods in tribal areas. Journal of Social Policy Studies, 29(1), 55-68.
XVI. Sen, A. (1999). Development as Freedom. Oxford University Press. (This foundational book provides insights into the capability approach and its relevance to poverty in tribal communities.)
XVII. Tripathi, M. & Jha, A. (2020). The role of sustainable agriculture in enhancing rural incomes. Journal of Rural Economics , 35(2), 134-150.
XVIII. Choudhury, P., & Banerjee, R. (2017). Assessing barriers to economic inclusion in tribal regions. Journal of Development Studies , 52(6), 467-482.
XIX. Das, K., & Mohanty, P. (2022). Impact of road infrastructure on tribal economic development. Transport and Rural Development Journal , 30(1), 102-121.
XX. Verma, M., & Sinha, D. (2019).Financial literacy interventions and their effects on rural communities: A case study from tribal regions. Journal of Rural Education and Development , 22(3), 182-194.
XXI. Ghosh, A. (2015).Analyzing the economic impact of rural transport on poverty alleviation. Indian Journal of Infrastructure and Rural Development , 8(2), 72-89.
XXII. Roy, S., & Mishra, N. (2018).Climate change adaptation strategies for sustainable rural development in tribal areas. Environmental and Rural Studies , 13(2), 45-61.
XXIII. Barik, R., & Panda, S. (2021).Challenges of implementing digital banking in rural and tribal regions of India. Digital Financial Inclusion Quarterly , 17(1), 95-110.
XXIV. Subramanian, R., & Rao, K. (2020).Exploring socio-economic deprivation in rural India: The role of education and healthcare. Journal of Rural Health and Development , 38(2), 234-245.
XXV. Bhatia, L., & Sharma, J. (2021).A study on rural credit and indebtedness among tribal communities. Financial Studies in Rural Economics , 29(3), 112-129.
XXVI. Kaur, S., & Singh, H. (2019).Examining the relationship between land ownership and poverty among tribal populations. Land and Rural Studies Journal , 27(3), 77-89.
XXVII. Chattopadhyay, A. (2019).Rural skill development and employment generation: Lessons from tribal areas. Journal of Skill Development and Employment , 15(4), 200-217.
XXVIII. Patnaik, J., & Behera, P. (2020).Role of NGOs in improving healthcare access in rural India: A focus on tribal regions. Health and Development Quarterly , 18(1), 69-89.
Additional Files
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 International Education and Research Journal (IERJ)
This work is licensed under a Creative Commons Attribution 4.0 International License.
