Women's financial empowerment: unpacking the influence of socio-economic, education and demographics

Women's financial empowerment is a cornerstone for societal progress and gender equality. Through rigorous investigation, this study aims to unveil the complex interplay among the SEED factors and their impact on women's financial status based on the data collected from the fifth round of the Haryana National Family Health Survey (NFHS). By employing the chi-square and odd ratio, the investigation delves into the complex dynamics of socio-economic factors such as education and employment, alongside demographic factors like age, family structure, caste, religion, and geographical location. Findings unveil that a high level of financial empowerment is associated with higher age, employment, a nuclear family, higher education, and urban residency. Policymakers and stakeholders can devise targeted interventions to enhance women's agency and contribute their best efforts to improve women's status in society and advance gender equality so that the country can move towards gender neutrality from the concept of just equality.