• Pandu Ranga Rao

In Labor abundant and capital short economies like India, there is a severe budgetary constraint for funds and pressing need for higher investment in the frontiers of social development. Micro Enterprises are playing a dominant role in fighting the unemployment problem Hence the people have to come forward to engage themselves in productive activities by starting their own ventures and utilize the local resources. The GDP and in turn the economic development depends on the utilization of physical natural resources by the human resource. The financial institutions envisage through Micro Finance the micro enterprises can be generated from which the desired economic development and social inclusion can be achieved The paper on “Micro Finance for Economic Development” touches upon the importance of micro enterprises in the various economies. How the Micro Finance is supporting for the development in the Middle East and North Africa (MENA), the most successful BRAC model of Bangladesh. How the micro credit from the Micro Financial Institutions from the fast developing country like China by referring Qinghai Community Development Project (QCDP) are effective for the growth of Micro Enterprises and in turn Economic Development The paper highlighted the historical forms of Micro Finance in the countries like Bolivia, Nigeria,, Ghana, West Africa, China, Indonesia and Philippines and compared with the present scenario. It has specifically reviewed the Indian Micro Finance programs of NABARD and other NGO’s like SEWA Ahmadabad, CDS Madurai etc.The study has also thrown light on cost-effectiveness and financial sustainability in the functioning of Micro Finance Institution. The paper also focused on research results on the operational issues like Operating Self Sufficiency (OSS) and Institutional Financial Sustainability of Micro Finance Institutions of different countries

Sustainability, cost-effectiveness, Micro Enterprises, operating self suffiency (oss)

"Microcredit for Development of Micro Enterprises Problems and Prospects", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 5, page no.250-260, May-2019, Available :http://www.jetir.org/papers/JETIRCC06048.pdf

"Microcredit for Development of Micro Enterprises Problems and Prospects", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 5, page no. pp250-260, May-2019, Available at : http://www.jetir.org/papers/JETIRCC06048.pdf