"FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH IN INDIA"

Abstract

In this article, the link between financial development and economic growth in India is investigated, with a particular emphasis on the time period beginning with liberalization at the beginning of the 2015s and continuing up until the current day. The purpose of this study is to investigate the ways in which developments in the financial sector, such as banking, stock markets, and other financial institutions, have impacted the trajectory of economic growth in India. The purpose of this article is to identify important drivers of financial growth by employing a combination of econometric research and qualitative assessment. These drivers include legislative reforms, technology developments, and expanded access to financial services. "The findings indicate that there is a significant positive association between financial development and economic growth. This highlights the significant role that financial inclusion and efficient financial markets play in maintaining economic progress. However, the report also analyzes possible problems that might hamper the good influence that financial development has on economic growth. These challenges include financial instability and income inequality, among others. The findings of the research are summarized in a set of policy suggestions that are intended to further enhance the financial sector in order to support India's sustainable economic growth prospects".