ASSESSMENT OF INCOME DIVERSIFICATION AND FAMILY WELFARE: AN EMPIRICAL STUDY OF SMALL-SCALE RICE FARMERS IN DINAJPUR DISTRICT, BANGLADESH

Income Diversification and Family Welfare

Abstract

This study is to investigate how household welfare is impacted by income diversity. To account for the small-scale rice farmers living in Dinajpur Sadar Upazila, six villages from the Dinajpur district's Sadar Upazila were picked with attention. Next, utilizing the random sampling approach and a pre-testing survey questionnaire, 402 samples were gathered. To achieve the study’s purpose, we used summary statistics and a multivariable regression model to analyze the data. This study uses the Simpson Diversity Index (SDI) and Henderfild Index to assess income diversity. The findings showed that the following factors are statistically significant in influencing the household welfare of small-scale growers in the research regions: land holdings, distance from the closest market, age, experience in farming, education, creation of financial services, income diversification (measured by the SDI and Henderfild index), and off-farm income. Furthermore, this research suggests that to improve their living prospects and boost their living standards, governments and politicians should assist them by offering more significant educational opportunities, financial services, and financing options for self-employment.