Finance matters: Business Lin
The Hindu Business Line, November 27, 2013:
The article “Take money matters to school” (Business Line, November 25) throws light on the reasons for the tardy progress being made in bringing about financial inclusion, despite the RBI’s awareness drive in the last couple of years.
The real financial position is kept concealed by all financial managers, right from the US Treasury managers to the head of a below-the-poverty-line (BPL) family in India. If tax-payers in the US and the school-going child of the BPL family were aware of the $16 trillion debt and how the monthly fees were being paid, respectively, the expenditure patterns of the country and the family would undergo a transformation.
To effect any change, the best option would be to include finance as a compulsory subject in the education module right from class 7. If this is done, the approach to savings, borrowing and spending will change for the better.
M. G. Warrier