Financial Inclusion and Policy Outcomes of MGNREGA: A Comprehensive Analysis of Wage Transparency and Resource Allocation in Rayagada

Abstract: This research examines the socio-economic impact of the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) in Odisha's Rayagada district, a predominantly tribal region. Employing mixed methods, including surveys, interviews, and Structural Equation Modelling (SEM), it evaluates key outcomes like financial inclusion, wage transparency, and resource allocation efficiency. While MGNREGA enhances livelihoods and financial access, challenges such as wage delays and administrative hurdles persist. The study proposes actionable strategies to refine implementation, offering novel insights for rural development globally. Keywords: MGNREGA, Rural Employment, Financial Inclusion, Policy Optimization, Rural Development JEL Classification Number: J21, J31, H53