Microfinance and Socio-Economic Change:An Assessment of Women Clients of Meghalaya

Microfinance has evolved the world over as a vital intervention towards empowerment of women. Although not a panacea, studies have shown its potency and efficacy. This article delves into the analysis of microfinance oriented "socioeconomic change" in Meghalaya. It covers a period of five years, where in, data are compiled for 200 microfinance women clients (experimental group) and 100 non-microfinance women clients (control group). The groups are matched on base variable for comparison of change. Further, multiple base variable matching is applied for computation of difference-in-difference scores between the groups for specific statistical inferences. The study revealed that microfinance has resulted in positive socioeconomic change which is better than the control group. It has led to an appreciation in income, expenditure and savings, improvement in asset structure, increased access to productive assets and household property, etc. Similarly, favourable social change is visible in education, decision making, improved health status, family planning decisions, recognition and acceptance, etc. These findings are motivating towards a continuing, better and bigger float of microfinance intervention in the state.