Microfinance for Macro-Development : An Analysis

Theoretically, Social Development is a qualitative change and restructuring of a country's economy in connection with economical and social progress. The main indicator of social advancement is an increasing per capita income reflecting an increase in the economic productivity, average material wellbeing and quality of life of a country's population. In recent times, microfinance is being considered as a tool to propel the economic activities and raise the income level of the poor, resulting in ultimate social benefits. With this backdrop, this paper attempts to analyse the relation between microfinance and social development of a region