Danish, Mohd Shadab and Bhanumurthy, N.R. creator text Economic & Political Weekly monographic eng

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61(16), Apr 18, 2026: p.65-73 Access to finance remains a central concern in developing economies, such as India, where resource gaps constrain economic activity. Using World Bank Enterprise Surveys (2014, 2022), this paper examines institutional credit access among Indian small and medium enterprises. Generalised estimating equations logit estimates show no significant improvement over time; firms in 2022 were about 12 percentage points less likely to access credit than in 2014. Female-managed firms, exporters, and SMEs exhibit higher access, while micro-firms remain excluded. Women-led firms report borrowing costs as a key constraint. The findings highlight a dual challenge: expanding credit access and reducing transaction and compliance burdens.-Reproduced https://www.epw.in/journal/indias-industrial-transformation/formal-credit-and-persistent-constraints.html Economic & Political Weekly 260505