Poverty, wealth inequality and financial inclusion among castes in Hindu and Muslim communities in Uttar Pradesh, India. (17th February 2022)

• Record Type: Journal Article
• Authors: Tiwari, Chhavi; Goli, Srinivas; Siddiqui, Mohammad Zahid; Salve, Pradeep S.
• Is Part Of: Journal of international development. Volume 34:Number 6(2022)
• Page Start: 1227
• Page End: 1255
• Publication Date: 2022-02-17
• Subjects: caste -- financial inclusion -- India -- poverty -- Uttar Pradesh -- wealth inequality; Economic development projects -- Developing countries -- Periodicals; Developing countries -- Economic policy -- Periodicals; Developing countries -- Foreign economic relations -- Periodicals; Economic development -- Periodicals; 330.91724
• DOI: 10.1002/jid.3626
• Languages: English
• ISSNs: 0954-1748

Abstract

Abstract: This study estimates poverty, wealth inequality and financial inclusion, for the first time, at the sub‐caste level in both Hindus and Muslims using a unique survey data collected from 7124 households in Uttar Pradesh, India, during 2014–2015. The results confirm the existing hypothesis that Brahmins, Thakurs and other Hindu general castes have higher wealth accumulation, lower poverty and lesser exclusion from formal financial services than Dalits. Exclusion from formal financial services forces Dalits to depend primarily on informal financial sources for borrowing—which leads to financial misfortune and further dragging them into a vicious cycle of poverty.