Journal of Advances in Developmental Research

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The Role of Financial Literacy in Strengthening Women’s Participation in the Indian Economy

Author(s) Karishma Kumari
Country India
Abstract Financial literacy has emerged as a crucial tool for fostering inclusive economic growth and empowering women in developing countries. In India, while women make up almost half of the population, their involvement in formal economic sectors remains relatively limited due to barriers in education, job opportunities, financial services, and decision-making authority. Financial literacy, which includes knowledge of savings, budgeting, investment, credit, insurance, and digital financial services, has the potential to transform women from passive economic participants into active contributors to national development. This research paper examines the role of financial literacy in strengthening women’s participation in the Indian economy by analysing its impact on financial inclusion, entrepreneurship, labour force participation, investment behaviour, and digital financial engagement. The study is descriptive and analytical in nature and relies on secondary data collected from government reports, RBI publications, Economic Surveys, SEBI reports, NITI Aayog documents, and scholarly research articles. The findings reveal that financial literacy significantly enhances women’s economic confidence, entrepreneurial abilities, savings and investment practices, and participation in digital financial systems. However, socio-cultural barriers, educational inequality, digital illiteracy, and limited institutional support continue to restrict women’s financial empowerment. The paper concludes that strengthening financial literacy among women is essential not only for gender equality but also for accelerating India’s economic growth and achieving sustainable development.
Keywords Financial Inclusion, Financial Literacy, Women Entrepreneurship, Digital Financial Literacy
Published In Volume 16, Issue 2, July-December 2025
Published On 2025-11-08
Cite This The Role of Financial Literacy in Strengthening Women’s Participation in the Indian Economy - Karishma Kumari - IJAIDR Volume 16, Issue 2, July-December 2025.
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