Microfinance: The Catalyst of GNH Index

Microfinance services have witnessed burgeoning benefits to the poor and upliftment of the downtrodden. It has shown its positive impact on the living standards of the poor which is one of the prime indicators of Gross National Happiness (GNH) Index. In this paper, an examination on the impact of microfinance on the living standards of the poor is carried out to find out its real impact on GNH Index acceleration. Also, the paper investigates on the capability development of the poor at micro level through the fighting weapon microfinance for achieving happiness at individual level. The study relies on secondary data. The Human Development Index (HDI), SHG Bank Linkage Model (SBLP) and Agriculture Lending Programme of BDBL are the key indicators/sources of drawing inclusive inferences of the study. The study at the end unveils the importance of microfinance in bringing happiness at individual level and acceleration of GNH index.