Impact analysis of microfinance programs and policies in India: A case study of district Kupwara

The Microfinance is seen as a key development tool for poverty alleviation across the globe. Same is seen in Indian context despite the deepening crises within Andhra Pradesh, it continues to grow in India. The objective of this study was to investigate the impact of microfinance on poor people in outcomes including, income, health, schooling of children, food security, housing, job creation, and women empowerment with the case study of Kupwara district. A total 104 respondents were selected randomly from microfinance beneficiaries (MB) and non-beneficiaries (NB). The collected data were analyzed through descriptive statistics. Findings revealed that, microfinance has positive impact on income, health, improved housing, and food security. While as there was no significant impact on women empowerment, job creation, and schooling of children. The major factors hindering poor access to credit were reported to be lack of information, high interest rate, attitude of officials and defaulting. The available evidence shows that microfinance programs and policies do well, as well as harm to the livelihoods of poor.