Financial Literacy – Written by Vinny Satija

FINANCIAL LITERACY

Financial literacy is the ability to understand how the money market works, how people earn or make money, how he invests money, how he manages money and how he donate it to others. Basically it involves all activities related to management of money .It involves skills and intelligence of a person to make more informed and effective decisions.

Prime Minister Narendra Modi’s maiden speech in the Lok Sabha vowed to empower the poor, and enable them to  fight poverty in order to come out of it. In the Indian scenario, this imperative agenda can be met only by following  the path of financial literacy — the foremost step towards financial inclusion.

The role played by governments and employers in managing investments on behalf of individuals has shrunk  significantly in the recent past as a result of changes in the social support structures across the world. This has  increased individuals’ responsibility in managing their own finances and securing their financial future. In an  environment where the range and the complexity of financial products continue to increase, it is imperative that  individuals develop nuanced understanding of the world of finance to be able to make choices that are most  appropriate to their financial goals and needs.

Though India is developing but its youth is lacking behind in terms of financial literacy. They have financial  knowledge but are unaware of its application. The need of the hour is to provide training to the youth and change  there attitude and behavior towards this subject. The main focus of training must to impart proper financial skills  among them. The training programme must also include weaker section of the society, like women and people from  lower income group and caste. Financial literacy will for sure help in the economic development and uplifting the  Indian society.Therefore government should focus on this topic and introduce schemes to create awareness about this topic.

Click here for government certification in Accounting, Banking & Finance

Share this post

13 Comments. Leave new

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.

Bio-Medical Waste
Brain Drain Problem of India…

Get industry recognized certification – Contact us

keyboard_arrow_up
Open chat
Need help?
Hello 👋
Can we help you?