A Study on the Role of MGNREGA in Fostering Economic Development via Welfare Initiatives, Employment Opportunities, and Asset Formation in Rural Bangalore

Abstract: Over the years, the evolution of the Indian economy has witnessed substantial transformation and enhancement. The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) has emerged as a pivotal component in fostering the development of rural India, primarily through its dual impact of employment generation and asset formation. This research paper employs trend analysis to investigate the pivotal role of the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) in driving economic development in rural areas of Bangalore. MGNREGA, a flagship welfare initiative, is examined through its multifaceted impact on welfare enhancement, employment generation, and asset accumulation. The study delves into the effectiveness of MGNREGA in improving the socio-economic well-being of rural communities by providing critical welfare benefits, facilitating employment opportunities, and promoting asset formation. The findings of this study provide valuable insights into the nuanced relationship between MGNREGA initiatives and economic development outcomes in rural Bangalore. By uncovering significant trends and patterns, the research offers actionable recommendations for policymakers, practitioners, and stakeholders to optimize MGNREGA's impact on fostering inclusive and sustainable economic growth in rural areas