Last updated: December 16, 2022, 1:31 PM IST
BJP MP Tejasvi Surya on Thursday urged the Center to consider making financial literacy a part of the school and college education system, saying a large number of young Indians are not equipped with “money management skills”.
Raising the issue at Zero Hour in Lok Sabha, he said that the basic money management concepts and skills such as investing, saving, retirement planning, mutual funds, cost of money and returns should be taught to students at school or college level. college level. .
The money management skills will help them properly plan their “financial life” when they enter the job market, he said.
Most importantly, it will prevent many people from falling prey to fraudulent get-rich-quick schemes, dubious cooperative banks and such debt traps, he added.
“A large number of young Indians are entering the labor market for the first time. They are also entering the middle class for the first time,” said Surya. However, a large number of young Indians are not equipped with important money management skills as financial literacy is not part of the country’s formal school education system, he added.
“The Ministry of Education should consider introducing financial literacy as part of the formal school and college education system so that young Indians entering the labor market for the first time gain key life skills and manage their financial lives. in a more effective way,” demanded the BJP MP.
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