Vol. 1 No. / ISSUE 4, Page 65 - 70, JUNE (2024): THE ROLE OF RESEARCH AND INNOVATION IN SHAPING THE NEW EDUCATION POLICY

Abstract

The significance of this research lies in the fact that it gives an insight into the impact of government intervention through welfare measures on the economic condition of households in India. In poverty reduction, financial inclusion is a significant aspect which helps in GDP growth and economic development. An exploratory design has been used in this study for the evaluation of the significance of welfare schemes in poverty reduction, financial inclusion and improving household livelihood in India. Thematic method of analysis has been applied in the study to analyse the collected data. Old age pension schemes and systems are differentiated from defence personnel, organised sector workers and employees. These pensions are featured with full coverage for general Government employees. The Indian government has initiated various welfare programs through the promotion of pro-growth policies for the poor. The increase in the RBI financial inclusion index in India signifies significant improvement in usage, access and quality of financial services.

Keywords: Government Welfare Schemes; Rural Households; Awareness Campaigns; Digital Inclusion; Grievance Redressal