UNDERSTANDING FINANCIAL LITERACY LEVELS AMONG FARMERS: INSIGHTS FROM SABARKANTHA DISTRICT

Abstract

This study explores the financial literacy levels among farmers in Sabarkantha district, Gujarat, with a focus on understanding their knowledge and practices related to key financial concepts. By analyzing the responses from a structured questionnaire, the research aims to assess the extent of financial literacy among the farmers and identify the relationship between their demographic profiles and financial knowledge. The findings reveal that farmers in Sabarkantha are generally aware of various financial products, such as different types of bank accounts, and are familiar with government schemes and subsidies available to them. Additionally, they demonstrate a good understanding of debt management principles and the risks associated with investments. The study also highlights a significant association between the farmers' demographic characteristics—such as age, education level, and farming experience—and their financial literacy levels. These insights can inform the design of targeted financial literacy programs tailored to the specific needs of farmers, contributing to improved financial decision-making and economic stability within the agricultural sector.