This study using access to education and health as the indicators of gender inequality examines gender inequality and state level openness in the different states of India. Further, the study"s findings show that at the sub-national level in India higher per capita income is accompanied with lower gender inequality. However, in some high income states gender inequality is also very high. High gender inequality was also observed in the states which score high in the openness index.

The Australian government as part of its aid programme allocates large funds to improve financial inclusion in the developing countries. This, however, does not take into account low educational levels in these countries. The existing literature on financial inclusion also treats the issue of financial inclusion as mainly supply centric and does not take cognizance of the fact that poor human development and high illiteracy levels in developing economies may prevent a large section of the population from benefitting from financial inclusion efforts due to low awareness and comprehension of the financial services. In this study by using a detailed three stage methodological approach we examine the relationship between financial development and human capital in 21 countries of developing Asia. The results of our study show that a significant negative relationship exists between financial development proxied by M2/GDP and pupil-teacher ratio and strong positive relationship exists between physical access to banks and expected years of schooling. Further, our financial development and educational development indices also show no clear pattern in the selected countries financial and educational development.

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