Financial Accessibility Of The Tribal Society In India: A Study Of Inclusion And Exclusion

Abstract

Lack of access to economic opportunities, such as capital assets, skill development, and education, is based on an individual's group identity rather than income, productivity, or merit. In this situation, tribal groups, making up more than 70% of those living in forests, are some of the most economically exploited, socially neglected, geographically isolated, and poorest members of society. Education, skill development, training, asset building, investment, and job prospects in sectors such as agriculture, forest-based industries, and fishing are encompassed in the dimensions. Since agriculture is the primary source of livelihood for the tribal community, the majority of investments are directed towards this sector. It was found that out of the 18 major states, Kerala, Tamil Nadu, and Karnataka scored high, six states scored medium, and the remaining 9 states had a low financial inclusion status. It is interesting that states with stronger economic growth, such as Haryana and Gujarat, also had low levels of financial inclusion. As a result, it was discovered that Scheduled Tribes were the social category encompassed in financial services at a lower rate of 36.32 percent, a decrease of 10 percent from the national average of 46.64 percent. Scheduled Castes and Other Backward Classes were both equally represented in financial inclusion, with 50% and 49% respectively.