Socio-economic Impact of Pradhan Mantri Jan Dhan Yojana on Financial Inclusion among Beneficiaries in Haryana
DOI:
https://doi.org/10.48165/IJEE.2026.62406Keywords:
Banking accessibility, Economic empowerment, Financial security, Poverty alleviation, Rural developmentAbstract
The Indian government introduced the Pradhan Mantri Jan Dhan Yojana (PMJDY) in 2014, to advance financial inclusion. The current study examined its socioeconomic effects in Haryana from 2024 to 2025. A semi-structured questionnaire was used to collect primary data from 500 respondents from eight districts, which was then corroborated by suitable secondary data sources. Changes in important variables such as income, education, living standards, social interactions and resource access were the main focus of the study. This study aimed to examine the socio-economic impact of PMJDY on its beneficiaries in Haryana. Data were analyzed using ANOVA and factor analysis. The ANOVA results showed that annual income significantly influenced the ease of opening a PMJDY account (p < 0.001), while availability shows marginal significance (p = 0.066). Factor analysis confirms data adequacy with KMO = 0.810 and a significant Bartlett’s test (p < 0.001), extracting eight factors, with the highest loading (0.775) on the perception that PMJDY reduces poverty and improves living standards. The findings indicate that while PMJDY has improved financial access, low-income beneficiaries still face challenges in regular usage. The study suggested that policy efforts should focus on enhancing financial literacy and encouraging active utilization of accounts.
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