The curriculum primarily emphasizes traditional subjects such as mathematics, science, and languages, while neglecting essential financial concepts.
Another critical aspect contributing to the failure of financial literacy is the lack of teacher training and competency in the subject.
India’s cultural and societal norms play a significant role in the neglect of financial literacy within the education system.
the Indian education system has been slow to integrate technology into financial literacy education system. Lack of access to modern tools, resources, and interactive platforms limits students’ exposure to real-world financial scenarios, digital banking, and financial planning applications.
Indian education system is the emphasis on rote learning and theoretical knowledge, which often lacks real-world application. Financial literacy, however, necessitates practical understanding and experience in managing personal finances.
The Indian education system’s failure to address financial literacy perpetuates socioeconomic disparities. Financial literacy is a powerful tool for social and economic empowerment, enabling individuals to make informed decisions about savings, investments, and entrepreneurship.