Supervisor Name- Dr. Swati Mishra Aman Deep Kaur
Associate Professor Research Scholar
Suresh Gyan Vihar University, Jaipur Suresh Gyan Vihar University, Jaipur
Abstract
Empowerment of women is considered as one of the most important responsibilities of every government. Till recently very little attention was given to empowerment issues or ways in which both empowerment and sustainability aims could be accommodated. Women’s access to savings and credit gives them greater economic role in decision-making through their decisions regarding savings and credit. When women control decisions concerning credit and savings, they optimize their own and the household’s welfare. The present study is an effort to look into the women empowerment issues and study the outreach of enterprise creation and microfinance operations with specific reference to Rajasthan State. Through field level interactions and experiences the study will provide an opportunity to the enterprise creation and microfinance schemes so that an organisational, regulatory framework for mainstreaming can be evolved and empower women.
KEYWORDS – Women empowerment, Economic Development, Enterprise Creation, Microfinance.
INTRODUCTION
Self Help Groups (SHGs) are today playing a significant role in deliverance of micro finance and related services, which has, in turn, led to increase in the saving habits of even the poorest stratum of the society, thereby contributing in the eradication of poverty in India and advancement of the poor people. It has also contributed in self-employment, through creation of small-size enterprises, by the weak and deprived sections of the society, thereby empowering them to sustain and earn their livelihood. Often depicted in literature as the medium meant for poor class, these groups, through which the individuals, who are deprived from availing benefits of formal financial institutions, receive support for their growth and advancement. However, these groups’ long-term growth depends on their contributions to the society, including the process they follow or the manner in which they approach and tap the untapped rural classes of India. Though substantial efforts have been made to tap Rajasthan’s rural populace, yet much needs to be done. Several measures have already been adopted by the government and several others yet needs to be still worked upon. Some of such steps include educating women, offering training and vocational courses as mandatory ones, motivational lectures from famous personalities and self-awareness must be created from the ground level.
WOMEN AND MICRO FINANCE
Microfinance services lead to women empowerment by positively influencing women’s decision-making power at household level and their overall socioeconomic status. Both men and women, face difficulties in establishing an additional enterprise, women have to overcome certain barriers like negative socio-cultural attitudes, legal barriers, practical external level, experience and age. Another interesting factor is their strong social coherence that allows them barriers, lack of education and personal difficulties. For women, especially for poor women, micro enterprise ownership has emerged as a strategy for economic survival. One of the most essential factors contributing to success in micro entrepreneurship is access to capital and financial services. For various reasons, women have had less access to these services than men. Regarding limited-access to financial services, women depend largely on their own limited cash resources or, in some cases, loans from extended family members for investment capital. Smaller amounts of investment capital effectively limit women to a narrow range of low-return activities which require minimal capital outlays, few tools and equipment and rely on farm produce or inexpensive raw materials. In general,
women need access to small loans (especially for revolving capital), innovative forms of collateral, frequent repayment schedules more appropriate to the cash flows of their enterprises, simpler application procedures and improved access to saving accounts.
In case of absence of microfinance, these deprived individuals or groups may find an alternative to these finances or advances in the form of either borrowing money from friends and/or relatives, or borrowing from places where the interest rate may be extremely high, or the last option, may refrain from any sort of lending, thus ending up leaving their idea or turning it a failure. Hence, microfinance is important to the underserved category as it provides them capital resources when they are not able to get lines of credit, checking accounts or loans from traditional banks, thereby motivating them to not only invest in their businesses, but also in themselves.
RESEARCH DESIGN
The proposed research design for the paper as follows: –
OBJECTIVES OF THE STUDY
The present paper work has the following objectives.
- To analyse the different components of Empowerment of Women through enterprise creation and
- To examine the level of respondent’s decision making and mobility before and after starting new venture using
- To make an evaluation of opinion about women
HYPOTHESIS FRAMEWORK
On the basis of objectives, following are the testable statement –
RESULTS AND FINDINGS
- City/Village wise distribution of respondents
Following table represents the distribution of population of the respondents as to whether they belong to city or village.
| City/Village | |||||
|
Frequency |
Percent |
Valid Percent | Cumulative Percent | ||
| Valid | City | 170 | 34.0 | 34.0 | 34.0 |
| Village | 330 | 66.0 | 66.0 | 100.0 | |
| Total | 500 | 100.0 | 100.0 | ||
Interpretation: The above table represents the rural-urban distribution of the population considered under the study. From 500 respondents, 34% of the population belongs to the city,
i.e. they are urban population. The other 66% belong to villages. The above table shows that the author has made a detailed study about women empowerment from both urban and rural areas.
2. Age Group wise distribution of respondents
Following table represents the age distribution of the population:
| Age Group | |||||
|
Frequency |
Percent |
Valid Percent | Cumulative Percent | ||
| Valid | 20-30 | 70 | 14.0 | 14.0 | 14.0 |
| 31-40 | 200 | 40.0 | 40.0 | 54.0 | |
| 41-50 | 160 | 32.0 | 32.0 | 86.0 | |
| Above 51 | 70 | 14.0 | 14.0 | 100.0 | |
| Total | 500 | 100.0 | 100.0 | ||
Interpretation: The above table represents the age group of the respondents. From 500 respondents, 14% of the respondents were of the age 20-30; 40% were of the age 31-40; 32% were of the age 41-50 and the rest 14% were above the age of 50. The table shows that the author considered a larger section of respondents of the age 31-40. More than 50% respondents aged less than 40 years which shows that the women were quite young.
3. Marital Status wise distribution of respondents
Following table represents the marital status of the women considered for the study.
| Marital Status | |||||
|
Frequency |
Percent |
Valid Percent | Cumulative Percent | ||
| Valid | Married | 370 | 74.0 | 74.0 | 74.0 |
| Unmarried | 130 | 26.0 | 26.0 | 100.0 | |
| Total | 500 | 100.0 | 100.0 | ||
Interpretation: Among the 500 respondents, 74% of the women were married and the rest 26% were unmarried. A large section of the respondents was married and thus proved to be beneficial factor to judge the empowerment amongst the women.
4. Education Level wise distribution of respondents
Following table represents the education level of the women considered for the study.
| Education Level | |||||
|
Frequency |
Percent |
Valid Percent | Cumulative Percent | ||
| Valid | Illiterate | 130 | 26.0 | 26.0 | 26.0 |
| Secondary | 200 | 40.0 | 40.0 | 66.0 | |
| Higher Secondary | 110 | 22.0 | 22.0 | 88.0 | |
| Graduate & Above | 60 | 12.0 | 12.0 | 100.0 | |
| Total | 500 | 100.0 | 100.0 | ||
Interpretation: The above table represents the literacy level of the women considered for the study. Only 26% of the respondents were illiterate. Amongst the rest 74%, 40% women had studied up to 10thstd i.e. secondary level; 22% of the total women had studied up to 12thstd and only 12% women were graduates (or above). The women had studied enough to read and write but did not have any degrees.
5. Type of Family to which the respondents belong
Following table represents the family type to which the respondents belong.
| Type of Family | |||||
|
Frequency |
Percent |
Valid Percent | Cumulative Percent | ||
| Valid | Nuclear | 200 | 40.0 | 40.0 | 40.0 |
| Joint | 300 | 60.0 | 60.0 | 100.0 | |
| Total | 500 | 100.0 | 100.0 | ||
Interpretation: The above table represents the size of the family that the respondents belong too. Among the 500 respondents, 40% of the women belonged to nuclear families and the rest 60% belonged to joint families.
6. Size of family of the respondents
The following table represents the size of the family of the respondents:
| Size of family | |||||
|
Frequency |
Percent |
Valid Percent | Cumulative Percent | ||
| Valid | 2 | 80 | 16.0 | 16.0 | 16.0 |
| 3-5 | 260 | 52.0 | 52.0 | 68.0 | |
| More than 5 | 160 | 32.0 | 32.0 | 100.0 | |
| Total | 500 | 100.0 | 100.0 | ||
Interpretation: The above table shows the family size of the respondents. 16% of the respondents were on two members in their family. 52% of the women had a family size of 3-5 members and 32% of the women were a part of a large family of more than 5 members. The above table shows that 84% of the respondents belonged to a large family.
7. Source of Income
Following table represents the source of income of the respondents:
| Source of Income | |||||
|
Frequency |
Percent |
Valid Percent | Cumulative Percent | ||
| Valid | Wages/Salary | 220 | 44.0 | 44.0 | 44.0 |
| Self Employed/Business | 280 | 56.0 | 56.0 | 100.0 | |
| Total | 500 | 100.0 | 100.0 | ||
Interpretation: The above table shows the source from where the respondents gain their income. 44% of the respondents work for salary and wages. 56% of the respondents are self- employed or have their own businesses. The above table also shows that amongst the 500 respondents, there is not much difference between salaried and self-employed people.
HYPOTHESIS TESTING:
Ho: There is no significant difference in the level of respondent’s decision making and mobility before and after starting new venture using microfinance.
Ha: There is significant difference in the level of respondent’s decision making and mobility before and after starting new venture using microfinance.
| Paired Samples Statistics | |||||||||||||||
| Mean | N | Std. Deviation | Std. Error Mean | ||||||||||||
| Pair 1 | Purchase of Basic Household needs (Grocery) | 2.02 | 500 | .708 | .032 | ||||||||||
| 1.86 | 500 | .749 | .034 | ||||||||||||
| Pair 2 | Purchase of household assets (TV, Fridge, Furniture) | 2.28 | 500 | .665 | .030 | ||||||||||
| 2.14 | 500 | .749 | .034 | ||||||||||||
| Pair 3 | Purchase of Land/House | 2.30 | 500 | .729 | .033 | ||||||||||
| 2.36 | 500 | .795 | .036 | ||||||||||||
| Pair 4 | Children schooling | 2.42 | 500 | .667 | .030 | ||||||||||
| 2.28 | 500 | .802 | .036 | ||||||||||||
| Pair 5 | Use of Loan Amount | 2.00 | 500 | .601 | .027 | ||||||||||
| 2.04 | 500 | .894 | .040 | ||||||||||||
| Pair 6 | Children Marriage decision | 2.10 | 500 | .701 | .031 | ||||||||||
| 2.24 | 500 | .839 | .038 | ||||||||||||
| Paired Samples Correlations | |||||||||||||||
| N | Correlation | Sig. | Result of
hypothesis testing |
||||||||||||
| Pair 1 | Purchase of Basic Household needs (Grocery) | 500 | -.448 | .000 | H0 Rejected | ||||||||||
| Pair 2 | Purchase of household assets (TV, Fridge, Furniture) | 500 | -.039 | .389 | H0 Accepted | ||||||||||
| Pair 3 | Purchase of Land/House | 500 | -.152 | .001 | H0 Rejected | ||||||||||
| Pair 4 | Children schooling | 500 | .079 | .076 | H0 Accepted | ||||||||||
| Pair 5 | Use of Loan Amount | 500 | .075 | .096 | H0 Accepted | ||||||||||
| Pair 6 | Children Marriage decision | 500 | .027 | .543 | H0 Accepted | ||||||||||
Paired Samples Test
Paired Differences T Df Sig.
Result of
Mean Std.
Deviation
Std. Error Mean
95% Confidence Interval of the Difference Lower Upper
(2-
tailed)
hypothesis testing
|
Interpretation: As a thumb rule while interoperating ANOVA table, if significance value is less than 0.05 then null hypotheses is said to be rejected otherwise it is accepted. For Children Marriage decision, Children schooling, Purchase of household assets (TV, Fridge, Furniture) and Purchase of Basic Household needs (Grocery), significant value was found less than 0.05 hence it can be stated that null hypothesis is rejected. Therefore, significant difference was found in the level of respondents’ decision making and mobility before and after starting new venture using microfinance.
Whereas for use of Loan Amount and Purchase of Land/House, significant value was found more than 0.05 henceforth null hypothesis is accepted which implies no significant difference was found in the level of respondents’ decision making and mobility before and after starting new venture using microfinance.
CONCLUSION
From the above results it may be concluded that enterprise creation and microfinance is a very effective tool for the uplift of the poor, in general and empowerment of women in particular. Advancing microfinance to the rural women through Self Help Groups on reasonable terms and conditions make it possible for the rural poor as well as rural women to attain economic independence, social status and organizational skills which results in helping the women and the poor function actively in the overall development of the society/nation. Enterprise creation and Microfinance supporting institutions have also emerged as an admirable tool for the generation of self-employment and hence preventing the society from indulging in evils like alcoholism and drug addiction. Therefore, enterprise creation and microfinance has acquired greatest importance particularly in a developing economy like India. Overall enterprise creation and microfinance are empowering women in economic, personal. social and family empowerment. Hence enterprise creation and micro finance plays a vital role in women empowerment.
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