RURAL SUSTAINABLE DEVELOPMENT -5P’S FRAMEWORK OF SHG’S

Abstract

The primary aim of rural development is to raise the standard of living of the rural poor, which is essential for attaining rural sustainable development and effective agricultural production. There needs to be a spatial balance between social and economic growth in rural areas in order to increase output and productivity. More than 70% of the population of India resides in rural areas. There has been less development in rural areas overall than there has been in metropolitan areas, most Indians living in rural areas have been finding it difficult to make ends meet. Real progress in India is impossible without the development of its rural areas. By reaching out to the poor rural women who make up the majority of their membership, Self-Help Groups (SHGs) in India are making a significant contribution to the reduction of poverty. These organizations are genuinely involved at the grassroots level and are committed to ending poverty in the nation. Self-Help Groups are viewed as an effective tool for fostering rural development and eradicating poverty. Self-Help Organizations have played a significant role in the socioeconomic development of rural residents. Rural Self-Help Groups (SHGs) are enabled to overcome several flaws in the development process today. These are made to mobilize individual members' resources for the group's collective economic development; foster the habit of saving money to use local resources,  improve the living conditions of the poor; raise awareness of rights,  mobilize individual skills for the group's benefit; identify issues, analyze them, and come up with solutions, provide financial support when needed for the development of entrepreneurship, act as a medium for the socioeconomic development of the village; create connections with microfinance institutions; assistance in loan recovery; plan training for skill development; develop mutual understanding to develop trust and self-confidence; develop leadership qualities; build up teamwork; and use as an efficient delivery channel for rural credit. This paper aims to study the effects of microfinance on socioeconomic growth & to examine the role of Self-Help Groups in rural development in the districts of Gujarat through 5P’s framework consisting of Problems, Policy and Programmes, Projection, Performance, and Programmatic action.